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2018 (8) TMI 437 - AT - Income TaxDeemed dividend u/s. 2(22)(e) - whether the loans and advances received by the HUF could be treated as ‘deemed dividend’ within the meaning of Sec. 2(22)(e) - Held that:- The assessee-recipient of money is neither the registered nor the beneficial shareholder of the payer company, i. e. Portescap. Ostensibly, the common registered as well as beneficial shareholder of assessee-company and Portescap is Kollmorgen and not the assessee-company. Assessee has correctly placed reliance on the judgment of the Hon'ble Madras High Court in the case of M/s. Ennore Cargo Container Terminal P. Ltd. (2017 (4) TMI 615 - MADRAS HIGH COURT), which has been rendered in a somewhat identical situation. - Decided against the revenue.
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