{"id":4500,"date":"2019-03-22T06:34:21","date_gmt":"2019-03-22T06:34:21","guid":{"rendered":"http:\/\/itatonline.org\/digest\/cit-v-basant-poddar-2019-173-dtr-368-karn-hc\/"},"modified":"2021-02-11T09:43:07","modified_gmt":"2021-02-11T04:13:07","slug":"cit-v-basant-poddar-2019-173-dtr-368-karn-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-basant-poddar-2019-173-dtr-368-karn-hc\/","title":{"rendered":"CIT v. Basant Poddar ( 2019) 412 ITR 529\/ 173 DTR 368 \/ 307 CTR 341 ( 2020) 116 taxmann.com  799(  Karn) (HC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue\u00a0the Court held that the transaction was business transaction and interest corporate deposit was accepted\u00a0as genuine by the AO in the case of lender concern by the same AO. Interest was also offered as income . Deletion of addition as deemed dividend is held to be justified .( AY.2004 -05)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.2(22)(e): Deemed dividend \u2013 Intercorporate deposit -Business transactions -Deposit in the course of business- Interest income was offered as income \u2013 Not assessable as  deemed dividend.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4500","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1aA","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=4500"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4500\/revisions"}],"predecessor-version":[{"id":15205,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4500\/revisions\/15205"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=4500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=4500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=4500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}