Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4886 
