https://www.taxtmi.com/caselaws?id=37531 The court ruled in favor of the assessee in a case involving the deduction of deemed dividends from accumulated profits and the assessment of capital gains. Deemed dividends were deemed to come from accumulated profits, leading to their deduction from the total. Additionally, the court found that there was no assessable capital gain as there was no transfer of capital assets, resulting in a favorable outcome for the assessee. The revenue was directed to pay the costs of the assessee, including counsel's fee of Rs. 500. en-us Thu, 30 Mar 1978 00:00:00 +0530 Tue, 30 Mar 2010 13:16:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37531 The court ruled in favor of the assessee in a case involving the deduction of deemed dividends from accumulated profits and the assessment of capital gains. Deemed dividends were deemed to come from accumulated profits, leading to their deduction from the total. Additionally, the court found that there was no assessable capital gain as there was no transfer of capital assets, resulting in a favorable outcome for the assessee. The revenue was directed to pay the costs of the assessee, including counsel's fee of Rs. 500. Case-Laws Income Tax Thu, 30 Mar 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37531