https://www.taxtmi.com/caselaws?id=366482 The High Court upheld the decision to treat loans given by two companies to a partnership firm, in which the appellant was a partner, as deemed dividends in the appellant's hands. However, the Court found errors in the computation of accumulated profits of the companies. The Court directed a reassessment to verify if the sum exceeded the accumulated profits and remanded the matter for this purpose. The assessing officer was given eight weeks to complete this task, with the appellant granted an opportunity for representation. The appeal and stay petition were disposed of without costs to either party. en-us Mon, 25 Jun 2018 00:00:00 +0530 Wed, 05 Sep 2018 10:32:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366482 The High Court upheld the decision to treat loans given by two companies to a partnership firm, in which the appellant was a partner, as deemed dividends in the appellant's hands. However, the Court found errors in the computation of accumulated profits of the companies. The Court directed a reassessment to verify if the sum exceeded the accumulated profits and remanded the matter for this purpose. The assessing officer was given eight weeks to complete this task, with the appellant granted an opportunity for representation. The appeal and stay petition were disposed of without costs to either party. Case-Laws Income Tax Mon, 25 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366482