This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Deemed dividend provisions not applicable if Assessee is neither registered nor beneficial shareholder of payer company
Case Law Details
- Case Name
- DCIT Vs M/s. Gilbarco Veeder Root India Pvt. Ltd. (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2010-11
- Courts
- All ITAT, ITAT Mumbai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
DCIT Vs Gilbarco Veeder Root India Pvt. Ltd (ITAT Mumbai)
The appellant before us is a company which has received a sum of Rs.90 crores from other concern, i.e. Portescap. The assessee-company as well as the other concern, i.e. Portescap, have common shareholders inasmuch as the entire shareholding of the assessee-company as well as that of Portescap is held by Kollmorgen, either by itself or through its nominee. The case of the Assessing Officer is that the amount of Rs.90 crores received by the assessee-company from Portescap is assessable as ‘deemed dividend’ u/s 2(22)(e) of the Act. ...
