Court Examines Section 2(22)(e) of Income Tax Act on Deemed Dividends in Ongoing Subsidiary Transactions Dispute.

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Full Text of the Document

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....Deemed dividend under section 2(22)(e) - assessee has been taken the plea consistently that provisions of Section 2(22)(e) of the I.T. Act, 1961, would not apply in the case of the assessee company because assessee company is maintaining the running transactions with its subsidiary company - deeming provisions of Section 2(22)(e) of the I.T. Act, 1961, would not apply.....