deemed dividend us 2(22)e

This query is : Resolved

ca tarun sharma (Querist)
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16 September 2009 hi if any co give any advance to person having substantial int in co or any concern in which such person having sub int then under which hand deemed dividend will be taxable co or receipient

Late CA Sampat Jain

Late CA Sampat Jain (Expert)
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18 September 2009 receipient

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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11 October 2009 If the loan/advance is given to the share holder, it is to be asessed in his hands as deemed dividend.

If the loan /advance is given to a concern in which the share holder have substantial interest, then such amount shall be treated as deemed dividend in the hands of the SHARE HOLDER and not the concern.

Citation:- ACIT Vs. Bhaumik Colour P Ltd (2009) 27 SOT 270 (Mum)

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