deemed dividend u/s 2(22)e

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BHARTI (Querist)
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26 December 2008 if the company is engaged in lending money but that part is substantial.Is the company liable to register in rbi as NBFC company? my case is stand in the exception of u/s 2(22)e that is in ordinary course of business loan given to shareholder is not deemed dividend but the AO asked is the co. is NBFC CO.i said no it should be then he said it must be nbfc. so wat should i do.

thanks
bharti

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C A GROUP COACHING (Expert)
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26 December 2008 GIVE HIM THE REFERENCE OF THE CASE LAW OF JHAMU SUGANDH V/S ITDEPT. JUDGEMENT PASSED BY SUPREME COURT
IT STATES ALL THE DETAILS RELEVENT TO YOUR CASE
YOU CAN GET THIS JUDGEMENT FROM bcasonline.org
SITE MAINTAINED BY BOMBAY CHARTERED ACCOUNTANTS SOCIETY
EVEN THEN IF YOU REQUIRE ANY FURTHER HELP ON DEEMED DIVIDEND WHICH IS A VERY COMPLICATED ISSUE IN REAL YOU CAN MAIL ME
ON preetiambani@yahoo.com
INCASE YOU FEEL YOU CAN EVEN CALL ME FOR ANY ASSISTANCE ON THIS SUBJECT
CHANDRAKANT AMBANI
BOMBAY
9819408963
9821240674