Monday, November 11, 2019

Sum received from subsidiary for making strategic investments was commercial transaction; no deemed dividend

INCOME TAX: Advance received by assessee-holding company from its subsidiary company for making strategic investments in real estate projects being purely of nature of trade advance received in ordinary course of business as per agreed Memorandum of Understanding, was a commercial transaction, hence, not deemed dividend under section 2(22)(e)

from www.taxmann.com Latest Case Laws https://ift.tt/2p7XYEL

No comments:

Post a Comment

AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...