Circular of CBDT on trade advances not to be deemed dividend under s. 2.22.e. Clear and mandatory instructions to withdraw appeals, not to file appeals, not to make addition, and to rectify orders in accordance with accepted legal position will go a long way in reducing litigation

Circular of CBDT on trade advances not to be deemed dividend under s. 2.22.e. Clear and mandatory instructions to withdraw appeals, not to file appeals, not to make addition, and to rectify orders in accordance with accepted legal position will go a long way in reducing litigation https://www.taxtmi.com/article/detailed?id=7465 The Board accepts that trade advances in the course of commercial transactions do not fall within the meaning of deemed dividend under section 2(22)(e); accordingly, departmental officers are directed not to file appeals on this ground and to withdraw or not press appeals already filed, and administrative measures (including rectification of inconsistent orders) are recommended to avoid further litigation. en-us Mon, 19 Jun 2017 06:57:53 +0530 Mon, 19 Jun 2017 06:57:53 +0530 TaxTMI RSS Generator Circular of CBDT on trade advances not to be deemed dividend under s. 2.22.e. Clear and mandatory instructions to withdraw appeals, not to file appeals, not to make addition, and to rectify orders in accordance with accepted legal position will go a long way in reducing litigation https://www.taxtmi.com/article/detailed?id=7465 The Board accepts that trade advances in the course of commercial transactions do not fall within the meaning of deemed dividend under section 2(22)(e); accordingly, departmental officers are directed not to file appeals on this ground and to withdraw or not press appeals already filed, and administrative measures (including rectification of inconsistent orders) are recommended to avoid further litigation. Articles Income Tax Mon, 19 Jun 2017 06:57:53 +0530 https://www.taxtmi.com/article/detailed?id=7465