Deemed dividend u/s 2(22)(e) - assessee has a strategic ...

Case Laws Income Tax

September 22, 2023

Deemed dividend u/s 2(22)(e) - assessee has a strategic investment in one of the group concerns in which the assessee held 17.20% shareholding - The benefit is not individual but solely on business exigency. The deeming provision is always under the control of express provision. It is pertinent to observe that the benefit of expressed provision is covered in deeming provision or not. Considering the factual matrix, the assessee did not get any direct benefit of the payment made by GAPL and the amount was returned back to party. - Additions deleted - AT

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Deemed dividend u/s 2(22)(e) - assessee has a strategic ...

Case Laws Income Tax

September 22, 2023

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