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2017 (6) TMI 875 - AT - Income TaxDeemed dividend addition U/s.2(22)(e) - as assessee company is not a registered shareholder of M/s. Cheran Spinners Ltd, whether there can be any assessment under deemed dividend U/s.2(22)(e) of the Act in respect of the sum received by the assessee? - Held that:- In view of the judgment of the Madras High Court in Ennore Cargo Container Terminal P. Ltd (2017 (4) TMI 615 - MADRAS HIGH COURT) this Tribunal is of the considered opinion that the assessment U/s.2(22)(e) of the Act, has to be made only in the hands of the registered shareholder. The assessee company admittedly is not a registered shareholder. There cannot be any assessment in the hands of the assessee, as rightly submitted by the assessee. At the best, it can be assessed only in the hands of the so called common shareholders of the assessee company. - Decided in favour of assessee.
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