Tag: deemed dividend 2(22)(e)
No deemed dividend u/s 2(22)(e) when loan was received for commercial transaction and interest was paid on it In a recent judgment ITAT has held that there is no deemed dividend u/s 2(22)(e) when loan was received for commercial transaction and interest was paid on it ABCAUS Case …
Deemed dividend to be taxed in the hands of individual shareholder and not in the hands of Partnership Firm in which he is partner ABCAUS Case Law CitationABCAUS 3638 (2023) (01) HC In the instant case, the assessee had challenged the order passed by the Income Tax Appellate …
Deemed dividend u/s 2(22)(e) applies only to net debit balance of advances in all accounts where assessee is maintaining multiple accounts with the same company ABCAUS Case Law Citation:ABCAUS 3065 (2019) (07) ITAT In the instant appeal had been filed by the assessee against the order of the …
Revision u/s 263 quashed as AO in view the legal position made a conscious decision holding that section 2(22)(e) was not applicable to the case. ABCAUS Case Law Citation: ABCAUS 2987 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: Pradip Kumar Malhotra v CIT (2011) …
Penalty u/s 271(1)(c) on account of deemed dividend addition u/s 2(22)(e) deleted. Penalty cannot be imposed in a debatable issue where assessee had furnished complete details of the transaction. ABCAUS Case Law Citation: ABCAUS 2960 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: James vs. …
Unaccounted tax liabilities to be deducted from reserves for levy of deemed dividend u/s 2(22)(e). AO should consider the liability while considering the status of the accumulated profit of the assessee ABCAUS Case Law Citation: ABCAUS 2911 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties …
No deemed dividend u/s 2(22)(e) when assessee not the beneficial owner of shares. Issue pending before larger bench of Supreme Court was not relevant – High Court ABCAUS Case Law Citation: ABCAUS 2835 (2019) (03) HC Important Case Laws Cited/relied upon by the parties Universal Medicare National Travel …
Advances made to group companies who were short of funds in order to honour cheque not deemed dividend but advances for business purpose. ABCAUS Case Law Citation: ABCAUS 2755 (2019) (01) ITAT Important Case Laws Cited/relied upon by the parties Bright Enterprises Pvt. Ltd. Vs. CIT (2016), 381 …
Closing debit balance of directors current account not deemed dividend u/s 2(22)(e) if no fresh loan/advance was given during the year – ITAT ABCAUS Case Law Citation: ABCAUS 2584 (2018) (10) ITAT Important Case Laws Cited/relied upon by the parties: CIT v. K. Srinivasan 59 ITR 788 (Mad.) …
Proportionate allocation of deemed dividend based on shareholding of borrowing company may arise if there are two or more common shareholders in lending and borrowing company ABCAUS Case Law Citation: ABCAUS 2568 (2018) (10) HC Important Case Laws Cited/relied upon by the parties: ACIT Vs Bhaumik Colours Pvt. …
