https://www.taxtmi.com/caselaws?id=310365 The ITAT upheld the treatment of a loan as a deemed dividend under section 2(22)(e) of the Income Tax Act, agreeing with the CIT(A) and AO's assessment. It confirmed the computation of accumulated profits, including undisclosed income, as appropriate. The ITAT validated the reopening of the case under section 148, finding the AO's reasons within the prescribed period justified. Additional grounds challenging the reopening were dismissed, and the appeal by the assessee was rejected, with the judgment delivered on July 14, 2022. en-us Thu, 14 Jul 2022 00:00:00 +0530 Fri, 20 Oct 2023 10:16:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310365 The ITAT upheld the treatment of a loan as a deemed dividend under section 2(22)(e) of the Income Tax Act, agreeing with the CIT(A) and AO's assessment. It confirmed the computation of accumulated profits, including undisclosed income, as appropriate. The ITAT validated the reopening of the case under section 148, finding the AO's reasons within the prescribed period justified. Additional grounds challenging the reopening were dismissed, and the appeal by the assessee was rejected, with the judgment delivered on July 14, 2022. Case-Laws Income Tax Thu, 14 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310365