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Income Tax: Section 2(22)(e) Act can be invoked in respect of shareholder
Case Law Details
- Case Name
- ACIT Vs Vserve Business Solution Pvt. Ltd. (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Delhi
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ACIT Vs Vserve Business Solution Pvt. Ltd. (ITAT Delhi)
Assessing Officer has not disputed the fact that the assessee is not a share holder in Intersoft Data Labs Labs Pvt. Ltd. which provided interest free loans to the assessee only because the assessee as well as lender entity are having a common shareholder the Assessing Officer has treated the amount received as deemed dividend. Now, it is fairly well settled that the provisions of section 2(22)(e) of the Act can be invoked in respect of shareholder.
FULL TEXT OF THE ORDER OF ITAT DELHI
This is an appeal by the Revenue aga...
