deemed dividend 2(22)(e) Archive

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

 

Advance for purchasing capital assets not deemed divided u/s 2(22)(e). It was a trade advance in the normal course of business – ITAT

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Advance for purchasing capital assets not deemed divided u/s 2(22)(e). It was a trade advance in the normal course of business – ITAT ABCAUS Case Law Citation: ABCAUS 1180 (2017) (03) ITAT The Grievance: The appellant assessee company was aggrieved by the addition made by the Assessing Officer (‘AO’)

 

Deemed dividend-share premium not part of accumulated profits. Proportionate taxation u/s 2(22)(e) to be made if more than one shareholder satisfy conditions-ITAT

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Deemed dividend-share premium not part of accumulated profits. Proportionate taxation u/s 2(22)(e) to be made if more than one shareholder satisfy conditions-ITAT  ABCAUS Case Law Citation: ABCAUS 1139 (2017) (02) ITAT Assessment Year : 2009-10 Date/Month of Pronouncement: February, 2017 Important Case Laws Cited/relied upon: Commissioner of Income Tax

 

Payments to HUF held deemed dividend u/s 2(22)(e) despite the HUF itself was not the registered shareholder of the company-Supreme Court

Payments to HUF held deemed dividend u/s 2(22)(e) because the prescribed conditions were fulfilled notwithstanding the fact that the HUF itself was not the registered shareholder of the company-Supreme Court ABCAUS Case Law Citation: ABCAUS 1095 (2017) (01) SC Assessment Year : 2006-07 Important Case Laws Cited: Binal Sevantilal Koradia