https://www.taxtmi.com/caselaws?id=336300 The ITAT partially allowed the appeals, emphasizing the importance of accurate computation of accumulated profits for determining deemed dividends under section 2(22)(e) of the Income Tax Act. The decision highlighted discrepancies in the AO's calculation, directing a re-calculation based on Balance Sheet information and relevant adjustments. The ITAT stressed the significance of cooperation and adherence to legal principles, ultimately resulting in a revised calculation of accumulated profits and a partial allowance of the appeals. en-us Fri, 28 Oct 2016 00:00:00 +0530 Thu, 15 Dec 2016 20:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336300 The ITAT partially allowed the appeals, emphasizing the importance of accurate computation of accumulated profits for determining deemed dividends under section 2(22)(e) of the Income Tax Act. The decision highlighted discrepancies in the AO's calculation, directing a re-calculation based on Balance Sheet information and relevant adjustments. The ITAT stressed the significance of cooperation and adherence to legal principles, ultimately resulting in a revised calculation of accumulated profits and a partial allowance of the appeals. Case-Laws Income Tax Fri, 28 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336300