Wednesday, June 8, 2011

Corporat Loans/advances, can't be treated as deemed dividend

Loans/advances given by a company to another company, which is not a shareholder of lender company, can't be treated as deemed dividend

Income-tax : Deeming fiction of s. 2(22)(e) can be applied only in the hands of the shareholder and not the non-shareholder [Section 2(22) of the Income-tax Act, 1961 - Deemed dividend] - [2011] 10 taxmann.com 122 (Indore - ITAT)

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.