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Section 2(22)e

This query is : Resolved 
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(Querist)
02 December 2009
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
02 December 2009 If the company is a closely held company and has accumulated profits, the said advance will partake as deemed dividend and no way out to escape from tax liability. To my understanding, there is no case law to contravene the situation.
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CA SURENDRA KUMAR RAKHECHA

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CA SURENDRA KUMAR RAKHECHA (Expert)
02 December 2009 Either transfer shares of the assessee by way of gift (before the date of advance)to his family members; thereby reduce the holding of 10%.

CA Rakhecha
Surat
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inder

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inder (Querist)
04 December 2009 Thanks to Mr. B. Chackrapani Warrier Ji.
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