Transaction Not Deemed Dividend: Current Account Between Group Concerns Excluded Under IT Act Section 2(22)(e.

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) - the transaction between two group concerns were in the nature of current account and inter banking account containing both types of entries i.e., receipts and payments, the same cannot be brought in the purview of loans and advances so as to attract Section 2(22)(e)....