S.2(22)(e): Deemed dividend is not assessable if recipient not shareholder
Description: Where assesses is not a shareholder of the paying company, the dividend is not assessable in its hands. The legal fiction in Section 2(22) (e) enlarges the definition of dividend but does not extend to, or broaden the concept of a “shareholder”. CIT vs. Ankitech Pvt. Ltd. (Delhi) (High court). Source: 1. www.aiftponline.org 2. […]
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