https://www.taxtmi.com/highlights?id=70966 Penalty levied u/s 271(1)(c) - addition u/s 2(22)(e) - deemed dividend - While levying the penalty, the deeming provisions can be applied to a limited extent and instant case was concerned with the imposition of penalty under section 271(1)(c), which was not sustainable in so far as the assessee-company was not a registered shareholder of loan advancing company who had vien loan / advance to the assessee-company. - AT en-us Tue, 18 Jul 2023 08:13:49 +0530 Tue, 18 Jul 2023 08:13:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=70966 Penalty levied u/s 271(1)(c) - addition u/s 2(22)(e) - deemed dividend - While levying the penalty, the deeming provisions can be applied to a limited extent and instant case was concerned with the imposition of penalty under section 271(1)(c), which was not sustainable in so far as the assessee-company was not a registered shareholder of loan advancing company who had vien loan / advance to the assessee-company. - AT Highlights Income Tax Tue, 18 Jul 2023 08:13:49 +0530 https://www.taxtmi.com/highlights?id=70966