Friday, September 20, 2019

Subsequent repayment of loan isn't relevant in determining deemed dividend u/s. 2(22)(e)

INCOME TAX: Repayment of loan or advance, which gets deemed, on receipt, on account of legal fiction, as a distribution of profit and, thus, as income in hands of payee shareholder, is of no consequence

from www.taxmann.com Latest Case Laws https://ift.tt/2LE9tMl
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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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