Sec 2(22)(e) of income tax act

Not covered directly but may be fall under "any payment by any such company on behalf, or for the individual benefit, of any such shareholder". Depending upon the facts of the case. 

Three limbs of Section

Payment by way of advance or loan:

1. to a shareholder, being a person who is the beneficial owner of shares (not being shares entitled to a fixed rate of dividend whether with or without a right to participate in profits) holding not less than ten per cent of the voting power
2. to any concern in which such shareholder is a member or a partner and in which he has a substantial interest (hereafter in this clause referred to as the said concern)]
3. any payment by any such company on behalf, or for the individual benefit, of any such shareholder

Definitely not falling in first TWO but might be covered in third scenario depending upon the facts of the case.

Refer:  CIT Vs. L. Alagusundaram Chettiar[1977] 109 ITR 508 (Mad.)