Tribunal held that the fact that the loan or advance taken from the company might have been ultimately repaid or adjusted would not alter the fact that the assessee had received dividend from the company during the relevant accounting period. Relied Miss P. sarada v. CIT (1998) 229 ITR 444 (SC). (AY.2014-15)
Assetz Infrastructure Pvt. Ltd. v. Dy.CIT (2020) 84 ITR 59 (SN) (Bang.)(Trib.)
S. 2(22)(e) : Dividend-Deemed dividend-Accumulated profits-Loans from subsidiary-Assessable as deemed dividend.