Court Rules Cancelled Cheque Not Deemed Dividend u/s 2(22)(e) of Income Tax Act: No Payment, No Dividend.

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....Deemed dividend addition u/s 2(22)(e) - Mere issuance of a cheque that was subsequently cancelled and returned without ever being ever presented for encashment and without any money having been paid against the same to the assessee it could never constitute payment of any sum. - HC....