‘Deemed Dividend’ provisions won’t attract for Re-Imbursement of Business Expenses of Company: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the provisions of deemed dividend under Section 2(22)(e) of the Income Tax Act, 1961 would not attract in case of reimbursement of business expenditure. The assessing officer, while completing the proceedings against the assessee for the relevant year noted that the […]

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