[aaykarbhavan] Loan to shareholder is deemed dividend even in absence of beneficial ownership; Bhumik Colour's case ignored

Loan to shareholder is deemed dividend even in absence of beneficial ownership; Bhumik Colour's case ignored

April 19, 2014[2014] 44 taxmann.com 28 (Karnataka)

IT : It is only where a loan is advanced by company to registered shareholder and other conditions set out in section 2(22)(e) are satisfied, said amount of loan would be liable to be regarded as deemed dividend within meaning of said section

 

Regards

Prarthana Jalan

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