Case Law Details
Case Name : Ramesh Premji Shah Vs DCIT (ITAT Mumbai)
Related Assessment Year : 2012-13
Courts :
All ITAT ITAT Mumbai
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Ramesh Premji Shah Vs DCIT (ITAT Mumbai)
ITAT Mumbai held that while determining the amount of deemed dividend under Explanation 2 to Section 2(22)(e) of the Income Tax Act, the current profit is not to be included to be part of accumulated profit.
Facts- The case of the assessee was re-opened u/s 147/143(3). AO noted in the re-assessment order that the assessee has received an amount of Rs.16.19 crores from M/s. Sony Mony Developers Pvt. Ltd. in which the assessee is dire
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