https://www.taxtmi.com/caselaws?id=209760 The Court dismissed the appeal, emphasizing the requirement that the payee must be a registered shareholder for Section 2(22)(e) of the Income Tax Act, 1961 to apply. The respondent/assessee, not being the beneficial owner of the shares in question, was found not liable for deemed dividend. Judicial precedents highlighted the distinction between registered and beneficial shareholders, with the Court affirming that only registered shareholders qualify as "shareholders" under the Act, leading to the dismissal of the appeal without costs. en-us Wed, 25 Jan 2012 00:00:00 +0530 Fri, 10 Feb 2012 11:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209760 The Court dismissed the appeal, emphasizing the requirement that the payee must be a registered shareholder for Section 2(22)(e) of the Income Tax Act, 1961 to apply. The respondent/assessee, not being the beneficial owner of the shares in question, was found not liable for deemed dividend. Judicial precedents highlighted the distinction between registered and beneficial shareholders, with the Court affirming that only registered shareholders qualify as "shareholders" under the Act, leading to the dismissal of the appeal without costs. Case-Laws Income Tax Wed, 25 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209760