2019 (1) TMI 1149 - SCH - Income Tax

Deemed dividend u/s 2(22)(e) - beneficial shareholder - protective assessment - assessee was holding more than 10% shareholding in M/s MLPL (the lender company) and also having a substantial interest in M/s OFPL (the borrowing company) - ITAT divided the deemed dividend proportionally also confirmed bu HC - Held that - Application seeking exemption from filing certified copy of the impugned order is allowed. Issue Notice. In the meanwhile, there shall be stay on the interest component only.

Summary

The Supreme Court allowed the application for exemption from filing certified copy of the impugned order. Notice issued. Stay granted on the interest component only.