Section 2(22)(e) Deemed Dividends Rule: Inapplicable if Not Both Registered and Beneficial Shareholder.

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....Deemed dividend u/s 2(22)(e) - If a person is a registered shareholder but not the beneficial then the provision of Section 2(22)(e) will not apply. Similarly if a person is a beneficial shareholder but not a registered shareholder then also the first limb of provisions of Section 2(22)(e) will not apply - AT....