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2012 (5) TMI 106 - ITAT CHENNAIDeemed dividend – Section 2(22) - Held that:- Out of the payment of Rs. 11 lakhs, only Rs. 4,17,600/-was refundable advance and balance Rs. 6,82,400/- was towards salary and incentives on which tax was duly deducted at source, could not be disputed by the Department - it is not fair to treat the whole amount of Rs. 11,00,000/- as deemed dividend under section 2(22)(e) – against revenue.
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