https://www.taxtmi.com/caselaws?id=399281 The Madras High Court interpreted Section 2(22)(e) of the Income Tax Act, 1961, regarding deemed dividend. The court considered exclusions under the statute, analyzing beneficial ownership of shares and the treatment of loans as deemed dividends based on accumulated profits and shareholder benefits. The court dismissed the appeal by the Revenue, affirming the Tribunal's decision that the payment to the partnership firm did not qualify as deemed dividend, as it was a deferred liability, not a loan. The appeal was dismissed, upholding the Tribunal's decision. en-us Tue, 29 Sep 2020 00:00:00 +0530 Fri, 09 Oct 2020 18:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399281 The Madras High Court interpreted Section 2(22)(e) of the Income Tax Act, 1961, regarding deemed dividend. The court considered exclusions under the statute, analyzing beneficial ownership of shares and the treatment of loans as deemed dividends based on accumulated profits and shareholder benefits. The court dismissed the appeal by the Revenue, affirming the Tribunal's decision that the payment to the partnership firm did not qualify as deemed dividend, as it was a deferred liability, not a loan. The appeal was dismissed, upholding the Tribunal's decision. Case-Laws Income Tax Tue, 29 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399281