Loan Against Keyman Insurance Considered Deemed Dividend u/s 2(22)(e), Taxable Up to Accumulated Profits.

Deemed dividend u/s 2(22)(e) - the company took a loan against the Keyman Insurance Policy and this sum was advanced to the Appellant - deemed dividend is taxable only to the extent of accumulated profits of the company available at the beginning of the relevant financial year. .....

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