X Pvt. Ltd. paid as loan to Y Pvt. Ltd. Rs. 50 Lac on 30.11.09. Share holders are same in the both companies having 25% shareholing in each company. Rs. 50.00 was repaid to X Pvt. Ltd. on 01.01.2010.
Please advise what consiquenes will arise under Income Tax like Deemed Dividend u/s 2(22)(e) in the both companies in details.
CAclubindia
