https://www.taxtmi.com/caselaws?id=5628 SC held that excess withdrawals by the assessee between July 3, 1972 and March 22, 1973, totaling Rs. 93,027, constituted advances to be treated as deemed dividends under s.2(22)(e) on the dates of withdrawal; a year-end adjustment did not negate the notional dividend treatment. The Tribunal's factual findings that the account stood overdrawn until the last day were upheld, and the appeal was dismissed with no order as to costs. en-us Tue, 09 Dec 1997 00:00:00 +0530 Sat, 11 Oct 2025 09:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5628 SC held that excess withdrawals by the assessee between July 3, 1972 and March 22, 1973, totaling Rs. 93,027, constituted advances to be treated as deemed dividends under s.2(22)(e) on the dates of withdrawal; a year-end adjustment did not negate the notional dividend treatment. The Tribunal's factual findings that the account stood overdrawn until the last day were upheld, and the appeal was dismissed with no order as to costs. Case-Laws Income Tax Tue, 09 Dec 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5628