Deemed Dividend u/s 2(22)(e): Current Year's Profits Excluded from Accumulated Profits Until Year-End Book Closure.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Deemed dividend addition u/s 2(22)(e) - computation of accumulated profits - it shall not include current year’s proportionate profit, since the current years profit shall be deemed to accrue only when the books of account are closed at the year end - AT....