Director of MEPL, had withdrawn certain amount from MEPL and kept same as fixed deposit in his own name in a bank and thereafter transferred entire amount with interest to company. The AO assessed the amount as deemed dividend. Held that\u00a0 conduct of assessee in refunding entire amount of fixed deposit with interest supported case of assessee that amount was withdrawn and kept in FD only to protect interest of company, AO erred in treating said transaction as deemed dividend. (AY. 2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"
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