Deemed dividend under Section 2(22)(e) can be taxed in the hands of the assessee only during the assessment year relevant to the financial year when the dividend was received and not otherwise. Addition was deleted. (AY. 2010-2011)
Sunil Kanhaiyalal Gidwani v. ACIT (2022) 216 TTJ 54 (UO) / 140 taxmann.com 21 (SMC) (Pune)(Trib.)
S. 2(22)(e) : Deemed dividend-Dividend if at all taxable was taxable in the previous financial year and not in the relevant year-Addition was deleted.