737/CBDT.

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..... ction 2(22)(e) of the IT Act, 1961, any loan or advance made by a closely held company to a shareholder who has a substantial interest in the company is taxable to the extent to which the company poss .....

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..... the ITOs assessing the shareholders the details of such loans. It is the duty of the ITOs assessing companies to scrutinize whether loans have been advanced by closely held companies to their shareho .....

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