https://www.taxtmi.com/caselaws?id=762230 The Telangana HC ruled on deemed dividend provisions under section 2(22)(e), specifically addressing whether depreciation deduction per Income-tax Act rates is necessary when calculating accumulated profits for taxing loans as deemed dividends. Following precedents from Bombay HC cases, the court held that accumulated profits don't mean balance-sheet profits but require adjustments including depreciation deductions at Income-tax Act prescribed rates. The decision favored the assessee, establishing that proper depreciation deductions must be made when determining accumulated profits for deemed dividend calculations. en-us Thu, 14 Nov 2024 00:00:00 +0530 Wed, 27 Nov 2024 08:58:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762230 The Telangana HC ruled on deemed dividend provisions under section 2(22)(e), specifically addressing whether depreciation deduction per Income-tax Act rates is necessary when calculating accumulated profits for taxing loans as deemed dividends. Following precedents from Bombay HC cases, the court held that accumulated profits don't mean balance-sheet profits but require adjustments including depreciation deductions at Income-tax Act prescribed rates. The decision favored the assessee, establishing that proper depreciation deductions must be made when determining accumulated profits for deemed dividend calculations. Case-Laws Income Tax Thu, 14 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762230