2(22)(e) Deemed dividend

This query is : Resolved 

22 December 2010 suppose share holder holding more then 10% stake in the company received amount as advance against sale of property from company will it be treated as deemed dividend u/s 2(22)(e) in the hands of the shareholder,if no ? please avail case law in supporting?

22 December 2010 Sec 2 (22) (e) Applies Only to Private - Closely Held Companies.

and it will be traet as deemed dividend

22 December 2010 https://www.caclubindia.com/articles/details.asp?mod_id=6121

For detail provision see above article.


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