ACIT vs. Krishna Coil Cutters P Ltd (ITAT Ahmedabad)

Court: ITAT, Ahmedabad
Head Notes:

When Company advancing money to a company which was a substantial shareholders for mutual business benefits and when such advancement was on interest at prevailing market rates and when company advancing funds was also engaged in money lending activities, money received by shareholder company cannot be taxed as deemed dividend u/s 2(22)(e) of the Act.

Law:
Section(s): sec 2(22)(e)
Counsel(s): Sakar Sharma, FCA
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Uploaded By Sakar Sharma
Date of upload: September 28, 2021

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