https://www.taxtmi.com/caselaws?id=18645 A genuine transfer of shares, supported by gift evidence, delivery of certificates and duly lodged transfer forms, was effective from the date those formalities were completed; later registration in the company's books was only ministerial and related back. On that basis, the assessee was not the beneficial owner of shares carrying not less than 20 per cent voting power and did not have substantial interest in the company. Loans advanced by the company therefore did not fall within deemed dividend under section 2(22)(e), and the disputed amount was excluded from taxable income. en-us Mon, 22 Jan 1996 00:00:00 +0530 Mon, 20 Feb 2012 14:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18645 A genuine transfer of shares, supported by gift evidence, delivery of certificates and duly lodged transfer forms, was effective from the date those formalities were completed; later registration in the company's books was only ministerial and related back. On that basis, the assessee was not the beneficial owner of shares carrying not less than 20 per cent voting power and did not have substantial interest in the company. Loans advanced by the company therefore did not fall within deemed dividend under section 2(22)(e), and the disputed amount was excluded from taxable income. Case-Laws Income Tax Mon, 22 Jan 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18645