deemed dividend 2(22)(e) Archive

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

 

Loans Advance given on interest not deemed dividend u/s 2(22)(e) as the shareholder do not derive any benefit from the funds of the company

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When the company was compensated by way of interest on loan taken, the assessee shareholder in real sense did not derive any benefit from the funds of the Company so as to attract the provisions deemed dividend under section 2(22)(e). INCOME TAX APPELLATE TRIBUNAL, KOLKATA ‘C’ BENCH, KOLKATA I.T.A. No.