Difference

2(22)C deals with distribution made to share holders of a company on its liquidation; to the extent of accumulated profits whether capitalised or not.

2(22)(e) covers loans/advances made by company (other than company in which public is substantially interested) to its shareholders or concerns; these advances can be to the extent of accumulated profits excluidng capitalised profits.

 sec 2(22)(e)--- loans advances made by a company to the person having substantial interest in the company would be treated as deemed dividend and is taxable in the hands of the shareholders. this div is not covered u/s 10(34)

Sec 2(22)(c)-- amount distributed to shareholders by a company on liquidation to the extent of accumlated profits whether capitalised or not and this amount(to the extent of accumlated profits) is exempt in the hands of the shareholders and the company has to pay DDT. 

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