220(e)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 March 2014 if i have made payment form pvt ltd to partnership firm in which i am partner and in both concern i have substantial interest and there is not only bank entry but sale or purchase transaction are also made so would 220(E) be applicable even if sale or purchase is also made????

thanks in advance

Nikhil Kaushik

Nikhil Kaushik (Expert)
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07 March 2014 it is not 220(e). it is 2(22)(e). to avoid deemed dividend in your case, you may refer to Mrs Amisha B Koradia v ITO (ITA No.03/Mum/2011 dtd 19.04.2013) Mumbai ITAT

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