Deemed dividend u/s 2(22)(e) of it act 1961

CA Bijay Shrestha (Never Give up....No matter what....)   (858 Points)

23 November 2016  

Dear Friends,

Where is it specifically mentioned in the IT Act 1961 that deemed dividend u/s 2(22)(e) is not exempt under section 10 and also does not suffer DDT u/s 115-O of the Act ?

Please suggest with the Act's extracts.