https://www.taxtmi.com/highlights?id=75251 Deemed dividend u/s 2(22)(e) - assessee company is a shareholder of lender company or not? - The ITAT held that for amounts to be considered as deemed dividends under Section 2(22)(e), specific conditions must be met, including the recipient being a shareholder of the lender company. The court found that the appellant companies were not shareholders of M/s. IG3 Infra Limited at the time of receiving the funds, hence the provisions of Section 2(22)(e) could not be applied. en-us Wed, 28 Feb 2024 08:36:07 +0530 Wed, 28 Feb 2024 08:36:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=75251 Deemed dividend u/s 2(22)(e) - assessee company is a shareholder of lender company or not? - The ITAT held that for amounts to be considered as deemed dividends under Section 2(22)(e), specific conditions must be met, including the recipient being a shareholder of the lender company. The court found that the appellant companies were not shareholders of M/s. IG3 Infra Limited at the time of receiving the funds, hence the provisions of Section 2(22)(e) could not be applied. Highlights Income Tax Wed, 28 Feb 2024 08:36:07 +0530 https://www.taxtmi.com/highlights?id=75251