Court Upholds Deemed Dividends Addition for Land Sale Advances u/s 2(22)(e) of Income Tax Act.

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Full Text of the Document

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....Deemed dividend addition u/s 2(22)(e) - nature of receipt - advances against sale of land - arrangement tailored by the assessee with the sole intent to wriggle out of the ramifications of having received the aforesaid amount from the company - Additions sustained.....