Security Deposit for Land Use Not a Deemed Dividend, Says Assessee, Citing Section 2(22)(e) of Income Tax Act.

Security Deposit for Land Use Not a Deemed Dividend, Says Assessee, Citing Section 2(22)(e) of Income Tax Act. https://www.taxtmi.com/highlights?id=52292 Deemed dividend u/s 2(22)(e) - Assessee contention the amount is not a loan taken from PASPL rather said amount is a security deposit received in terms of agreement under which the industrial land was given for industrial use to PASPL. - Since the amount is taken for business purposes only, no addition could be make - AT en-us Thu, 12 Mar 2020 11:29:29 +0530 Thu, 12 Mar 2020 11:29:29 +0530 TaxTMI RSS Generator Security Deposit for Land Use Not a Deemed Dividend, Says Assessee, Citing Section 2(22)(e) of Income Tax Act. https://www.taxtmi.com/highlights?id=52292 Deemed dividend u/s 2(22)(e) - Assessee contention the amount is not a loan taken from PASPL rather said amount is a security deposit received in terms of agreement under which the industrial land was given for industrial use to PASPL. - Since the amount is taken for business purposes only, no addition could be make - AT Highlights Income Tax Thu, 12 Mar 2020 11:29:29 +0530 https://www.taxtmi.com/highlights?id=52292