https://www.taxtmi.com/caselaws?id=196563 The Madras High Court interpreted section 2(22)(e) of the Income-tax Act regarding deemed dividend in a case involving a shareholder transferring funds from her deceased husband's account to hers. The Court emphasized the importance of the debtor-creditor relationship in deeming a payment and rejected the notion of construing a transfer entry as equivalent to payment. Relying on legal precedents, the Court ruled in favor of the assessee, holding that the transferred amount did not qualify as a payment under section 2(22)(e) and dismissed the Revenue's arguments. en-us Wed, 17 Sep 1997 00:00:00 +0530 Thu, 07 Dec 2017 13:00:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196563 The Madras High Court interpreted section 2(22)(e) of the Income-tax Act regarding deemed dividend in a case involving a shareholder transferring funds from her deceased husband's account to hers. The Court emphasized the importance of the debtor-creditor relationship in deeming a payment and rejected the notion of construing a transfer entry as equivalent to payment. Relying on legal precedents, the Court ruled in favor of the assessee, holding that the transferred amount did not qualify as a payment under section 2(22)(e) and dismissed the Revenue's arguments. Case-Laws Income Tax Wed, 17 Sep 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196563