Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
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A loan advanced by a closely held company to a shareholder can be treated as deemed dividend where the statutory conditions of section 2(22)(e) are satisfied. Applying the Supreme Court's interpretation in Smt. Tarulata Shyam, the Tribunal held that later repayment and the fact that the advance carried interest did not remove the payment from the deeming fiction. The authorities relied on by the parties were distinguished on their facts, including a money-lending exception and a specific quid pro quo absent here. The addition was therefore sustained and the appeal dismissed.
A loan advanced by a closely held company to a shareholder can be treated as deemed dividend where the statutory conditions of section 2(22)(e) are satisfied. Applying the Supreme Court's interpretation in Smt. Tarulata Shyam, the Tribunal held that later repayment and the fact that the advance carried interest did not remove the payment from the deeming fiction. The authorities relied on by the parties were distinguished on their facts, including a money-lending exception and a specific quid pro quo absent here. The addition was therefore sustained and the appeal dismissed.
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