deemed dividend 2(22)(e) Archive

Deemed dividends not exempted u/s 10(34) in the hand of the payee-High Court

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Deemed dividends not exempted u/s 10(34) in the hand of the payee since there is no payment of additional tax under Section 115(O)-High Court ABCAUS Case Law Citation: ABCAUS 2263 (2018) (03) HC The appellant assessee had challeneged the order of the ITAT holding that assessee was liable to

 

Deemed dividend upheld when amount was parked in long term investments and could not be in the course of business

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Deemed dividend upheld when amount was parked in long term investments and hence could not qualify as to be made in the course of business – High Court ABCAUS Case Law Citation: ABCAUS 2219 (2018) (02) HC The Challenge/Grievance: The case law involves an appeal filed by the Income

 

Deemed dividend provisions are not attracted in the absence of actual payment – High Court

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Deemed dividend provisions not attracted in absence of actual payment. Payment u/s 2(22)(e) has to be physical-actual and not mere book entry-High Court ABCAUS Case Law Citation: ABCAUS 2144 (2017) (12) HC The Challenge/Grievance: The instant appeal was filed by the Income Tax Department (the Revenue/Department) This under Section

 

No deemed dividend u/s 2(22)(e) where personal property pledged as collateral security – ITAT

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No deemed dividend u/s 2(22)(e) where personal property pledged as collateral security for enabling the company to obtain loan/credit facilities from bank – ITAT   ABCAUS Case Law Citation: ABCAUS 2123 (2017) (11) ITAT The respondent assessee was one of the directors of a Private Limited Company with substantial

 

Deemed Dividend u/s 2(22)(e) do not extend to non-shareholders-Supreme Court agrees with High Court

Deemed Dividend u/s 2(22)(e) do not extend to non-shareholders. The fiction not to be extended further for broadening the concept of shareholders – Supreme Court agrees with High Court ABCAUS Case Law Citation: ABCAUS 2099 (2017) (10) SC  Deemed Dividend u/s 2(22)(e) do not extend to non-shareholders In a

 

Trade advances are not deemed dividend u/s 2(22)(e). They do not fall within the ambit of the word ‘advance’

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Trade advances are not deemed dividend u/s 2(22)(e) as they do not fall within the ambit of the word ‘advance’ Circular No. 19/2017 F.No. 279/Misc./140/2015/ITJ Government of India Ministry of Finance Central Board of Direct Taxes New Delhi, Dated 12th June, 2017 Sub: Settled View on section 2(22)(e) of

 

Deemed Dividend-Loan to firm where partners are shareholders of the company not considered deemed dividend u/s 2(22)(e)

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Deemed Dividend-Loan to firm where partners are shareholders of the company. Advances not considered deemed dividend u/s 2(22)(e) ABCAUS Case Law Citation: ABCAUS 1224 (2017) (04) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the Commissioner of Income Tax (Appeals) in confirming the order