High Court Upholds ITAT Decision: Deemed Dividends u/s 2(22)(e) Not Taxable as Loans or Advances to Shareholders.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Deemed dividend u/s 2(22) (e) - to be assessed in the hands of the share holder or in the hands of the firm - the nature of transaction between the firm and the company and it is neither a loan nor an advance, but a deferred liability. - ITAT rightly deleted the additions - HC....