ITAT directs Re-adjudication in respect of additions made towards deemed dividend u/s 2(22)(e) Income Tax Act received from Shareholder Company [Read Order]

ITAT - Re-adjudication - additions - deemed dividend - Income Tax Act - Shareholder Company - TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Chennai bench directed readjudication in respect of addition made towards deemed dividend under Section 2(22)(e) of the Income Tax Act, 1961 received from shareholder company. The assessee Venkatachalam Mohan  filed his return of income for the assessment year 2011-12. The case was selected for scrutiny. During the course of…

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