2(22)(e)
This query is : Resolved
02 November 2009
whether amount of loan advanced to a shareholder holding 50% shares in a private limited company would attract 2(22)(e) and what is the status if the advance is repaid to the company by the shareholder in a subseqent year.
02 November 2009
If the company had accumulated profit, the said advance will become deemed dividend. If at all the advance is repaid in the next year, in the year of payment it will be deemed dividend itself according to court decisions.
04 November 2009
Citation:-
Walchand & co Ltd Vs.CIT (1975)100 ITR 598(Bom).
Walchand & co Ltd Vs.CIT (1975)100 ITR 598(Bom).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Building and other construction workers welfare cess act 1996
- Eway bill for machinery reparing
- Bank Accounts in Balance Sheet for ITR 3
- Gift of mutual fund units to daughter
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Form 10BD Filling
- Pan Card apply for Self help group
- Reporting of STCG on Property in ITR
- Error while filling exam form November 2026
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
