2012 (5) TMI 106

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..... .4.2010. 2. The sole issue raised in this appeal by the Revenue is that the ld. CIT(A) erred in directing the Assessing Officer to restrict the addition made on deemed dividend to Rs. 4,17,600/- as against Rs. 11,00,000/-made by the Assessing Officer. 3. The brief facts of the case are that the assessee is a whole time working director in M/s Ordian Healthcare Pvt. Ltd. drawing monthly remunerat .....

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..... nt Statement for the period from 2004 to 2005 N. PRAMODH CURRENT ACCOUNT   Voucher Reference Account Particulars Cheque Reference Debit Credit   BP 041603 I Salary Advance 28526/ 1,100,000.00     16.04.04 / ICICI Bank   16.04.04       JR 073103 Advance Adjusted     232,400.00   31.07.04 against Incentive   &n .....

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..... the appellant and TDS has also been effected. 7.2 Under the circumstances, it is not fair to treat the whole amount of Rs. 11,00,000/- as deemed dividend under section 2(22)(e). Further, an amount of Rs. 4,17,600/- was returned through cheque on 31.03.2005 by the appellant and this alone can be treated as deemed dividend. Accordingly, the Assessing Officer is directed to uphold the addition to th .....

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