All payments by way of deemed dividend taxable in the hands of the recipient of the dividend namely the shareholder

CASE LAWS DETAILS DECIDED BY: HIGH COURT OF BOMBAY, IN THE CASE OF: CIT Vs. Universal Medicare Pvt. Ltd., APPEAL NO: ITA No. 2264 of 2009, DECIDED ON: March 22, 2010. RELEVANT PARAGRAPH 8. Clause (e) of Section 2(22) is not artistically worded. For facility of exposition, the contents can be broken down for analysis: (i) Clause (e) applies to any payment by a company not being a company in which the public is substantially interested of any sum, whether as representing a part of the assets of the company or otherwise made after the 31 May 1987; (ii) Clause (e) covers a payment made by way of ...