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2014 (3) TMI 295 - AT - Income TaxDeemed dividend u/s 2(22)(e) of the Act – Held that:- The decision in Commissioner of Income Tax Versus Navyug Promoters (P) Ltd. [2011 (11) TMI 318 - Delhi High Court] followed - Legal provision relates to dividend, loan or advance given under the conditions specified under Section 2(22)(e) of the Act would be treated as dividend - By a deeming provision, it is the definition of dividend which is enlarged and is not to be extended further for broadening the concept of shareholder - an assessee who is not a shareholder of the company, from which it received a loan or an advance cannot be treated as being covered by the definition of the word dividend as provided in Sec.2(22)(e) of the Act - Decided Against Revenue.
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