Read all Latest Updates on and about Section 2(22)(e) of the Income Tax Act

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Relief to Reliance Motors: ITAT holds Loan to Non-Shareholder Not a Deemed Dividend [Read Order]

Akhaigha T Josh

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) recently upheld an order of the Commissioner of Income Tax Appeals ( CIT(A) ) where it...

Kerala High Court upholds Settlement Commission’s decision on Undisclosed Income [Read Order]

Addition for Deemed Dividend u/s 2(22)(e) of Income Tax Act Can Only be Made in the Hands of...

Deemed Dividends cannot be Taxed in the Hands of Non-Shareholders: ITAT Deletes Addition [Read...

Amounts Advanced for Business Transactions Between Parties Will not fall within the Definition of...

Case Digest: Deemed Dividends u/s 2(22)(e) of the Income Tax Act

Dividend usually refers to the distribution of profits by a company to its shareholders. However, in view of Section 2(22) of the Income Tax Act, 1961, the dividend shall also include the following: ...

Business Profits of Current Year accrue only at the Year End: ITAT deletes Addition u/s 2(22)(e) [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the business profits of a financial year gets accrued only at the end of the year, deleting the addition under...

Advance given to Protect Business Interest of Assessee-Company does not Attract Provisions of Deemed Dividend u/s 2(22)(e): ITAT [Read Order]

The Delhi bench of Income Tax Appellate Authority (ITAT) recently held that advance given to protect business interest of assessee –company did not attract provisions of deemed dividend under section...

Completion of Assessment in Hand of Company enough to prove Expense incurred for Business, Section 2(22)(e) can't be invoked: ITAT [Read Order]

The Chennai Bench Income Tax Appellate Tribunal (ITAT) held that completion of assessment in the hand of the company is enough to prove the expense incurred for business and section 2(22) e cannot be...

Gratuitous Loan by Company to Shareholders in Return to an advantage cannot be treated as Deemed Dividend: ITAT deletes Addition u/s 2(22)(e)

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) presided by Mr. Anil Chaturvedi, Accountant Member, and Ms. Astha Chandra, Judicial Member has held that gratuitous loan by the company to...

‘Deemed Dividend’ provisions won’t attract for Re-Imbursement of Business Expenses of Company: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the provisions of deemed dividend under Section 2(22)(e) of the Income Tax Act, 1961 would not attract in case of...

Loan obtained in non-gratuitous nature will not fall U/s 2(22)(e): ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that a loan obtained of non-gratuitous nature will not fall under section 2(22)(e) of the Income Tax Act,1961. The assessee,...