[aaykarbhavan] Loan to assessee couldn’t be taxed as deemed dividend if his HUF and minor children were owners of shares

Loan to assessee couldn't be taxed as deemed dividend if his HUF and minor children were owners of shares

June 20, 2014[2014] 45 taxmann.com 351 (Indore - Trib.)

IT : Merely because assessee liquidates its investment within a short span of time, which had given better overall earning to assessee, it would not lead to conclusion that assessee had no intention to keep shares as investor, but actually intended to trade in shares

IT : Shares registered in names of HUF and minor children of assessee cannot be treated as shares held by assessee for purpose of section 2(22)(e)

 

Regards

Prarthana Jalan

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

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