Sir
Suppose co. has Rs 200000 as accumulated profits. It has given loan to Mr. X of Rs. 200000 taxable as deemed dividend u/s 2(22)(e). AFter some time this load was repaid to Co. by Mr. X. Now co. gives loan to another shareholder Mr. B of Rs. 100000.
Please tell me whether Rs. 100000 is deemed dividend ? I mean to say whether repayment of Loan by Mr. X to be considered while taxing Deemed dividend in hands of B ?
CAclubindia
