https://www.taxtmi.com/caselaws?id=276195 A fresh assessment made after cancellation of an ex parte assessment was held time-barred under section 34(3) of the Indian Income-tax Act, 1922, because the section 27 proceeding could only relate to the assessee actually assessed by the ex parte order; a new assessment on the Hindu undivided family, filed on its own return and made beyond four years, could not be treated as a valid reassessment. Advances by a private company were also held not taxable as deemed dividends under section 2(6A)(e) where the shares stood in the name of the karta individually, since the statutory expression "shareholder" refers to the registered shareholder and not merely the beneficial owner. Both questions were answered for the assessee. en-us Mon, 10 May 1965 00:00:00 +0530 Thu, 01 Nov 2018 14:39:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276195 A fresh assessment made after cancellation of an ex parte assessment was held time-barred under section 34(3) of the Indian Income-tax Act, 1922, because the section 27 proceeding could only relate to the assessee actually assessed by the ex parte order; a new assessment on the Hindu undivided family, filed on its own return and made beyond four years, could not be treated as a valid reassessment. Advances by a private company were also held not taxable as deemed dividends under section 2(6A)(e) where the shares stood in the name of the karta individually, since the statutory expression "shareholder" refers to the registered shareholder and not merely the beneficial owner. Both questions were answered for the assessee. Case-Laws Income Tax Mon, 10 May 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276195