Dismissing the appeal of the revenue the Court held that deposit for purchase of premises cannot be assessed as deemed dividend . ( AY. 2009-10)
PCIT v. Dina S. Shah ( Smt) ( 2020) 117 taxmann.com 100 ( Bom) (HC)
S. 2(22)(e):Deemed dividend – Deposit for purchase of premises – Addition cannot be made as deemed dividend – No question of law .[ S.260A]