Section 2(22)(e)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 December 2011
If a company has given an advance to a director holding substantial interest in the company, but that advance is given for purchasing a property for company's business operations, but the deal didnt materialized and the advance was returned at the year end. Considering that other conditions of the section are satisfied, whether the advance will be considered as deemed dividend? Please give the relevant case laws too if section 2(22) (e) is not applicable?
02 December 2011
The advance given by the company was for the purpose of the company and for its own benefit. The provisions of Section 2(22)(e) will not applied in this case and the advance will not be considered as deemed dividend in the hand of Director Shareholder.
Message likes :
1 times
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 December 2011
thank you very much sir... please tell me if there are any relevant case laws...
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Regarding TDS Applicability For Director Remuneration
- SFT Cash Deposit in Current Account
- Annual return in Gst
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
