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Deemed Dividends Not Applicable to HUF u/s 2(22)(e) Due to Lack of Registered Shareholder Status.

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....Deemed dividend u/s 2(22)(e) - HUF - share certificates were issued in the name of the Karta - it is no gainsaying that since HUF itself is not the registered shareholder, the provisions of deemed dividend are not attracted - SC....