https://www.taxtmi.com/caselaws?id=10555 Deemed dividend under section 2(22)(e) applies only where a qualifying payment is made to a shareholder, to a concern in which the shareholder has the requisite interest, or for the shareholder's benefit, out of accumulated profits. On the stated facts, payments routed through partnership concerns were regular commercial transactions recorded in the books and represented repayment of earlier monies, with no proof of sham arrangement or personal benefit to the assessee. Block assessment under Chapter XIV-B is confined to undisclosed income found through search, so fully disclosed book entries cannot be taxed without incriminating material. The Tribunal should also decide the legal issue of interest itself rather than remitting it when the matter is ripe for final adjudication. en-us Thu, 12 May 2005 00:00:00 +0530 Fri, 17 Jul 2009 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10555 Deemed dividend under section 2(22)(e) applies only where a qualifying payment is made to a shareholder, to a concern in which the shareholder has the requisite interest, or for the shareholder's benefit, out of accumulated profits. On the stated facts, payments routed through partnership concerns were regular commercial transactions recorded in the books and represented repayment of earlier monies, with no proof of sham arrangement or personal benefit to the assessee. Block assessment under Chapter XIV-B is confined to undisclosed income found through search, so fully disclosed book entries cannot be taxed without incriminating material. The Tribunal should also decide the legal issue of interest itself rather than remitting it when the matter is ripe for final adjudication. Case-Laws Income Tax Thu, 12 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10555