TMI BlogDividend Stripping Deemed Sham u/s 94(7) of Income Tax Act; Transferor Retains Official Shareholder Status Pending Book Change.Treatment of dividend stripping transactions as sham or bogus - Section 94(7) - until change by registration is effected in the books of the company, the transferor continues to be the holder of the shares. - HC ..... X X X X Extracts X X X X X X X X Extracts X X X X
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