The Income Tax Appellate Tribunal (ITAT), Delhi Bench ruled that the transactions carried out through current account for business purposes would not fall within the definition of “Deemed Dividend”. So Section 2(22)(e) of the Income Tax Act, 1961, would not apply. The assessee, M/s. Exotica Housing & Infrastructure Company is engaged in the business of […]
from Taxscan | Simplifying Tax Laws https://ift.tt/3g4HAcZ
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