Friday, October 9, 2020

No deemed dividend if assessee wasn't a registered shareholder in lending Co.

INCOME TAX : Where Assessing Officer treated loan received by assessee company from another company as deemed dividend under section 2(22)(e), in view of decision in case of CIT v. T. Abdul Wahid & co., since assessee was not a shareholder in said company from it received loan, such loan amount could not be treated as deemed dividend under section 2(22)(e) in hands of assessee

from www.taxmann.com Latest Case Laws https://ift.tt/3iSo7gJ

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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...