[aaykarbhavan] Deemed dividend: Recurrent outflow of sum from co. to shareholder’s firm without any parallel inflow isn’t ordinary

Deemed dividend: Recurrent outflow of sum from co. to shareholder's firm without any parallel inflow isn't ordinary

May 23, 2014[2014] 45 taxmann.com 29 (Chandigarh - Trib.)

IT : Where companies in which assessee was holding more than 10 per cent shareholding gave loans to partnership firms in which she had substantial interest but there was no corresponding transfer of funds from said firms to companies, assessee's explanation that loans were advanced in ordinary course of business was not accepted and, consequently, amount in question was to be taxed as deemed dividend

 

Regards

Prarthana Jalan

__._,_.___

---

Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

---

receive alert on mobile, subscribe to SMS Channel named "aaykarbhavan"
[COST FREE]
SEND "on aaykarbhavan" TO 9870807070 FROM YOUR MOBILE.

To receive the mails from this group send message to aaykarbhavan-subscribe@yahoogroups.com

Visit Your Group

• New Members 1

• Privacy • Unsubscribe • Terms of Use