Deemed dividend u/s 2(22)(e) - Substantial interest in lending ...

Case Laws Income Tax

June 18, 2022

Deemed dividend u/s 2(22)(e) - Substantial interest in lending company - common shareholder - The definition of shareholder is not enlarged by any fiction. - under no circumstances the assessee could be treated as shareholder, member receiving dividend. Hence, the assessment of this loan received by assessee cannot be treated as deemed dividend u/s.2(22)(e) of the Act. Hence, we delete the addition and allow this issue of assessee’s appeal. - AT

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Deemed dividend u/s 2(22)(e) - Substantial interest in lending ...

Case Laws Income Tax

June 18, 2022

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