Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
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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