Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Original works exemption excludes standalone boulder transportation, leaving subcontracted railway-project transport services subject to service tax l...
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Deemed-dividend treatment requires a payment by a closely held company to have the character of a loan or advance to a substantial shareholder. Where a running account shows a continuous credit balance in the shareholder's favour, payment by the company discharges its pre-existing liability rather than creating shareholder indebtedness. Repayment or withdrawal against amounts already due to the shareholder therefore does not constitute deemed dividend. The real nature of the current account and movement of funds must be assessed; a payment's classification cannot rest solely on money moving from company to shareholder. Absence of a loan agreement, interest terms or board approval does not convert repayment into a loan or advance.
Deemed-dividend treatment requires a payment by a closely held company to have the character of a loan or advance to a substantial shareholder. Where a running account shows a continuous credit balance in the shareholder's favour, payment by the company discharges its pre-existing liability rather than creating shareholder indebtedness. Repayment or withdrawal against amounts already due to the shareholder therefore does not constitute deemed dividend. The real nature of the current account and movement of funds must be assessed; a payment's classification cannot rest solely on money moving from company to shareholder. Absence of a loan agreement, interest terms or board approval does not convert repayment into a loan or advance.
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