https://www.taxtmi.com/caselaws?id=35977 A loan is not chargeable as deemed dividend under section 2(6A)(e) of the Indian Income-tax Act, 1922 unless it is advanced to a registered shareholder. The Rajasthan HC held that a Hindu undivided family, even if the beneficial owner of shares, cannot satisfy the statutory requirement of registered shareholding, so advances made to it do not fall within the deeming fiction. The court also held that a contention not separately argued before the Tribunal may still be examined on reference if it forms part of the referred question and can be decided on the existing material. The deemed-dividend addition in respect of the advances was therefore not sustainable. en-us Tue, 27 Jan 1981 00:00:00 +0530 Thu, 18 Mar 2010 12:30:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35977 A loan is not chargeable as deemed dividend under section 2(6A)(e) of the Indian Income-tax Act, 1922 unless it is advanced to a registered shareholder. The Rajasthan HC held that a Hindu undivided family, even if the beneficial owner of shares, cannot satisfy the statutory requirement of registered shareholding, so advances made to it do not fall within the deeming fiction. The court also held that a contention not separately argued before the Tribunal may still be examined on reference if it forms part of the referred question and can be decided on the existing material. The deemed-dividend addition in respect of the advances was therefore not sustainable. Case-Laws Income Tax Tue, 27 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35977