https://www.taxtmi.com/article/detailed?id=7283 Payments made as commercial advances to shareholders for specific contractual obligations-such as supply of goods, rendering services or job work-are made in the payee's commercial capacity and are not loans or advances to the shareholder; therefore the deeming fiction of Section 2(22)(e) does not apply where the advance is supported by a genuine, enforceable contract and the payee has capacity and willingness to perform. en-us Fri, 17 Feb 2017 06:24:09 +0530 Fri, 17 Feb 2017 06:24:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7283 Payments made as commercial advances to shareholders for specific contractual obligations-such as supply of goods, rendering services or job work-are made in the payee's commercial capacity and are not loans or advances to the shareholder; therefore the deeming fiction of Section 2(22)(e) does not apply where the advance is supported by a genuine, enforceable contract and the payee has capacity and willingness to perform. Articles Income Tax Fri, 17 Feb 2017 06:24:09 +0530 https://www.taxtmi.com/article/detailed?id=7283