https://www.taxtmi.com/caselaws?id=29017 For deemed dividend under section 2(6A)(e) of the Indian Income-tax Act, 1922, amounts set aside as depreciation or replacement fund are not treated as accumulated profits because they are not real profits; the depreciation fund was therefore excluded. A reserve merely transferred out of profits remains part of accumulated profits unless it is shown to be in the nature of depreciation or an equivalent replacement provision; the building reserve fund was therefore included. en-us Wed, 04 Aug 1982 00:00:00 +0530 Wed, 10 Mar 2010 12:13:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29017 For deemed dividend under section 2(6A)(e) of the Indian Income-tax Act, 1922, amounts set aside as depreciation or replacement fund are not treated as accumulated profits because they are not real profits; the depreciation fund was therefore excluded. A reserve merely transferred out of profits remains part of accumulated profits unless it is shown to be in the nature of depreciation or an equivalent replacement provision; the building reserve fund was therefore included. Case-Laws Income Tax Wed, 04 Aug 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29017