https://www.taxtmi.com/article/detailed?id=5525 Deemed dividend applies only where the recipient is a shareholder of the lender; the term shareholder covers both registered and beneficial shareholders, and the provision does not apply where the recipient is not a shareholder. The Special Bench decision in ACIT v Bhaumik Colours has been accepted by revenue and attained finality, and revenue should not pursue repeated appeals on the settled question of treating repayments to non-shareholders as deemed dividend. en-us Sat, 15 Mar 2014 12:42:38 +0530 Sat, 15 Mar 2014 12:42:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5525 Deemed dividend applies only where the recipient is a shareholder of the lender; the term shareholder covers both registered and beneficial shareholders, and the provision does not apply where the recipient is not a shareholder. The Special Bench decision in ACIT v Bhaumik Colours has been accepted by revenue and attained finality, and revenue should not pursue repeated appeals on the settled question of treating repayments to non-shareholders as deemed dividend. Articles Income Tax Sat, 15 Mar 2014 12:42:38 +0530 https://www.taxtmi.com/article/detailed?id=5525