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1972 (10) TMI 24 - HC - Income Tax" 1. Whether, on the facts of the case, there was a 'loan or advance of Rs. 2,55,135 within the meaning of section 12(1B) read with section 2(6A)(e) by the company to the shareholder ? 2. If the answer to question No. 1 is in the affirmative, whether the phrase 'accumulated profits', as used in section 2(6A)(e) means such profits as disclosed by the company's balance-sheet or such disclosed profits subject to adjustments as required by the Income-tax Act ? "
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