https://www.taxtmi.com/caselaws?id=7069 Amounts advanced by a company to a Hindu undivided family were not automatically taxable as deemed dividend under section 2(6A)(e) of the Indian Income-tax Act, 1922. The provision extends beyond direct loans to a shareholder and also covers payments made on behalf of, or for the individual benefit of, a shareholder; however, that wider limb applies only where the Revenue proves such shareholder benefit on evidence. On the facts, the record did not show that the advances were made on behalf of or for the benefit of the shareholders, and a mere possibility of advantage to the family as beneficial owner was insufficient. en-us Tue, 28 Mar 1967 00:00:00 +0530 Sun, 08 Feb 2009 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7069 Amounts advanced by a company to a Hindu undivided family were not automatically taxable as deemed dividend under section 2(6A)(e) of the Indian Income-tax Act, 1922. The provision extends beyond direct loans to a shareholder and also covers payments made on behalf of, or for the individual benefit of, a shareholder; however, that wider limb applies only where the Revenue proves such shareholder benefit on evidence. On the facts, the record did not show that the advances were made on behalf of or for the benefit of the shareholders, and a mere possibility of advantage to the family as beneficial owner was insufficient. Case-Laws Income Tax Tue, 28 Mar 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7069