Loan to Non-Shareholder Not Taxed as Deemed Dividend u/s 2(22)(e) of Income Tax Act.

Deemed dividend addition u/s. 2(22)(e) - loan or advance to a non-shareholder cannot be taxed as Deemed Dividend in the hands of a non-shareholder. Since the Assessee in the present case is not a shareholder in the lender company, addition to be deleted. - AT .....

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