No TDS deductible as Inter-Corporate Deposit not a Deemed Dividend: ITAT [Read Order]

By Taxscan Team - On February 9, 2022 12:10 pm - 2 mins read
TDS - TDS deductible - Inter-Corporate deposit - deemed dividend - ITAT - Taxscan

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that no TDS deductible as Inter-Corporate deposit is not a deemed dividend. The assessee, M/s J. P. Iscon Ltd. had given inter-corporate deposit to six subsidiaries companies namely Dhanlaxmi Infrastructure Pvt. Ltd., Amit Intertrade Pvt. Ltd., Dhwani Infrastructure Pvt. Ltd., Rich Infrastructure Pvt. Ltd.,…

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