can anyone plz explain me d taxability of 'dividend'. and also sub clause of deemed dividend i.e 2(22)e.
dividend isnt taxable in the hands of shareholders after 31 march 2003, am i right?
and i have gone through 1 case where a person received a loan of Rs 73 lakh from the company.
the income-tax officer (ITO) added Rs 73 lakh as deemed dividend assessable under Section 2(22)(e).
It was pleaded that the amount was only a temporary borrowing and not in the nature of loan or advance.and thus was exempt.
CAclubindia
