Live Help
Get News Alerts from on your desktop.
No Thanks Allow
You have blocked the notification on recent updates. Click below to re-subscribe.
No Thanks
You have already subscribed to Taxmann’s notification.
No Thanks UnSubscribe
Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset Session Cancel Session

Loan given by money lending co. to its director couldn't be treated as deemed dividend

March 23, 2020[2020] 115 69 (Gujarat)

INCOME TAX : Where assessee was holding more than 10 per cent of shares in two companies and he obtained loan and advances from said companies on interest and Assessing Officer treated amount of loan and advances to be deemed dividend and added same to income of assessee, since both companies were having money lending as substantial part of their business, no addition could be made by way of deemed dividend in income of assessee
Best view in 1140 x 768