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![Provisions of Deemed Dividend would not attract when the Credit is result of a Business Transaction, not of Loan or deposit: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Deemed-Dividends-Taxscan.jpg "Provisions of Deemed Dividend would not attract when the Credit is result of a Business Transaction, not of Loan or deposit: Madras HC [Read Judgment]")
Provisions of Deemed Dividend would not attract when the Credit is result of a Business Transaction, not of Loan or deposit: Madras HC [Read Judgment]
The division bench of the Madras High Court, in the case of CIT Chennai v. Mr. C. Subba Reddy, held that the provisions relating to ‘deemed dividend’...