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1970 (2) TMI 34 - HC - Income TaxWhether the sums were rightly treated as dividends paid to the two shareholders by the assessee-company within the meaning of section 2(6A)(e) - section 2(6A)(e) of Indian Income-tax Act, 1922 indicates that loans advanced to shareholders can decide to be dividends only if an assessee-company is found to be in possession of "accumulated profit" at the relevant dates - commercial profits accumulated by the company cannot be ascertained without considering all and singular the disbursements made and expenditure actually incurred
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