High Court Examines Taxation of Loans as Deemed Dividends u/s 2(22)(e) of Income Tax Act; Seeks Legislative Clarity.

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....Deemed dividend u/s 2(22)(e) - if the intention of the Legislature was to tax such loan or advance as deemed dividend at the hands of deeming shareholder, then the legislature would have inserted deeming provision in respect of shareholder as well - HC....