Case Law Details
Case Name : GAP International Sourcing India Private Limited Vs Deputy Commissioner of Income Tax (Delhi High Court)
Related Assessment Year :
Courts :
All High Courts Delhi High Court
Recently, the Delhi bench of the Income-tax Appellate Tribunal remitted back the matter to the Disputes Resolution Panel (DRP) for reassessment since the directions of the DRP were found to be very laconic and non-speaking. The Tribunal, while setting aside such directions commented that the DRP has not considered the voluminous submissions of the taxpayer.
Facts of the case
• The taxpayer, an Indian company, had filed objections to the DRP against the draft assessment order (also incorporating transfer pricing issues).
• The taxpayer made voluminous submissions before the DRP. However, th...
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Sir,
Please confirm that Loan on Interest given by the closely held company to a Proprietorship firm whose proprietor have more than 10% shares in the said company
With regards,
Praveen Goyal
09319108536
sir,
please explain the concept of deemed dividend in a more simpler way……………..
it was lucidly explained above but still i didn’t understand.
how the income is arising in case of such loans??????????
and how can it be taxed????????
whether there is any option regarding solution of accumulated reserves of Private Limited Company??
Whether in terms of Section 2(22)(e) of the Act deemed dividend is taxable in the hands of the shareholder or in the hands of the concern to which loan or advance has been given?
Can a sec 25 company be converted to a shareholfing company? What are the procedures in companies act and Income Tax act to be abided by?