https://www.taxtmi.com/caselaws?id=416711 The appeal was dismissed, affirming the CIT(A)'s decision to add &8377; 25,00,000 as deemed dividend income received from IPF Breeders Pvt. Ltd. The Tribunal held that the payment was not exempt under section 10(33) of the Act for that year and should be taxed under section 2(22). The Tribunal also ruled that the payment was not a return of capital but dividend income subject to tax, as it was received before liquidation proceedings and dividend distribution tax was paid. The appellant's arguments were rejected, and the appeal was dismissed. en-us Thu, 23 Dec 2021 00:00:00 +0530 Tue, 09 Aug 2022 17:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416711 The appeal was dismissed, affirming the CIT(A)'s decision to add &8377; 25,00,000 as deemed dividend income received from IPF Breeders Pvt. Ltd. The Tribunal held that the payment was not exempt under section 10(33) of the Act for that year and should be taxed under section 2(22). The Tribunal also ruled that the payment was not a return of capital but dividend income subject to tax, as it was received before liquidation proceedings and dividend distribution tax was paid. The appellant's arguments were rejected, and the appeal was dismissed. Case-Laws Income Tax Thu, 23 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416711