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2017 (12) TMI 598 - AT - Income TaxDeemed dividend addition u/s 2(22)(e) - taxability of loans/advances received by the assessee - Held that:- We find that the legal fiction in section 2(22)(e) enlarges the definition of dividend but does not extend to or broaden the concept of a ‘shareholder’. As the assessee is not a shareholder of the lender-company, the receipt is not susceptible to tax under s.2(22)(e) in its hands . See Baumik Colour Pvt.Ltd. [2008 (11) TMI 273 - ITAT BOMBAY-E] - Decided in favour of assessee.
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