https://www.taxtmi.com/caselaws?id=338526 The High Court dismissed the appeal, ruling that a loan between companies with a common shareholder does not automatically qualify as deemed dividend under Section 2(22)(e) of the Income Tax Act. Emphasizing adherence to statutory requirements, the judgment clarified that legal fiction in tax law should not expand shareholder concepts beyond statutory bounds. The decision underscored the necessity of meeting specific criteria outlined in the Act for deeming a transaction as dividend, despite common shareholding. en-us Tue, 24 Jan 2017 00:00:00 +0530 Mon, 06 Feb 2017 11:18:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338526 The High Court dismissed the appeal, ruling that a loan between companies with a common shareholder does not automatically qualify as deemed dividend under Section 2(22)(e) of the Income Tax Act. Emphasizing adherence to statutory requirements, the judgment clarified that legal fiction in tax law should not expand shareholder concepts beyond statutory bounds. The decision underscored the necessity of meeting specific criteria outlined in the Act for deeming a transaction as dividend, despite common shareholding. Case-Laws Income Tax Tue, 24 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338526