https://www.taxtmi.com/caselaws?id=23707 The High Court ruled in favor of the assessee, determining that the loan given to the managing director did not qualify as a deemed dividend under section 2(22)(e) for the purposes of section 104 of the Income-tax Act, 1961. The Court emphasized the distinction between deemed dividends and actual dividends, stating that deemed dividends could lose their character as dividends if subsequently set off by actual dividends. The judgment provided a detailed analysis of statutory provisions and judicial interpretations to resolve the dispute comprehensively. en-us Wed, 13 Dec 1989 00:00:00 +0530 Wed, 23 Dec 2009 16:07:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23707 The High Court ruled in favor of the assessee, determining that the loan given to the managing director did not qualify as a deemed dividend under section 2(22)(e) for the purposes of section 104 of the Income-tax Act, 1961. The Court emphasized the distinction between deemed dividends and actual dividends, stating that deemed dividends could lose their character as dividends if subsequently set off by actual dividends. The judgment provided a detailed analysis of statutory provisions and judicial interpretations to resolve the dispute comprehensively. Case-Laws Income Tax Wed, 13 Dec 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23707