https://www.taxtmi.com/caselaws?id=251062 Interpretation of the term shareholder under the deeming provision for deemed dividend: the legislative definition of dividend was broadened to include advances or loans made to a registered shareholder, and distributions on reduction of capital or liquidation. Payments made to an entity in which a person has beneficial interest do not convert that person into a registered shareholder; beneficial ownership alone does not suffice. Consequently, where the recipient company was not a shareholder on the register, amounts could not be treated as deemed dividend and the tax additions were deleted. The deeming provision targets taxation in the hands of the registered shareholder. en-us Fri, 04 Jul 2014 00:00:00 +0530 Thu, 05 Feb 2026 15:39:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251062 Interpretation of the term shareholder under the deeming provision for deemed dividend: the legislative definition of dividend was broadened to include advances or loans made to a registered shareholder, and distributions on reduction of capital or liquidation. Payments made to an entity in which a person has beneficial interest do not convert that person into a registered shareholder; beneficial ownership alone does not suffice. Consequently, where the recipient company was not a shareholder on the register, amounts could not be treated as deemed dividend and the tax additions were deleted. The deeming provision targets taxation in the hands of the registered shareholder. Case-Laws Income Tax Fri, 04 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251062