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Transaction Classified as Deemed Dividend u/s 2(22)(e) of Income Tax Act Due to Company Payment for Directors.

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....Deemed dividend u/s 2(22)(e) - earnest money paid by the company on behalf of the directors - money was not returned after cancellation of sell agreement - the entire arrangement between the assessee and both the companies falls within the mischief of provisions contained u/s 2(22)(e) - AT....

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Transaction Classified as Deemed Dividend u/s 2(22)(e) of Income Tax Act Due to Company Payment for Directors.