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Income Tax - Highlights / Catch Notes

Home Highlights August 2019 Year 2019 This

Deemed dividend u/s 2(22)(e) - purchase of property in the name ...


Court Rules Property Not Deemed Dividend u/s 2(22)(e); Belongs to Company, Not Shareholder-Director.

August 1, 2019

Case Laws     Income Tax     AT

Deemed dividend u/s 2(22)(e) - purchase of property in the name of shareholder-director - the Board Resolution coupled with the entries in the books of account and Balance Sheets as at 31.3.2012 and 31.03.2013 constitute the clinching evidence to show that the said property really belongs to the Company and the assessee merely held the same for and on behalf of the Company - cannot be treated as deemed dividend

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