Advance Serving Business Purpose Excluded from Deemed Dividends u/s 2(22)(e) of Income Tax Act.

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 u/s 2(22)(e) - By granting advance, if the business purpose of the company is served and which is not the sum, which it otherwise would have distributed as dividend, cannot be brought within the deeming provision of treating such advance as deemed dividend. - AT....