Deemed Dividend u/s 2(22)(e) cannot be assessed by way of double deeming

Sri Haris Kalandan Mohammed Vs DCIT (ITAT Bangalore)

Honourable Bangalore Bench of ITAT in its recent decision held that deemed dividend u/s 2(22)(e) cannot be assessed unless assessee has received any direct benefit from the loan or advance or payment made by the company. The Tribunal held that  “double deeming” or “

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