Gratuitous Loan by Company in return to an advantage conferred upon the company by such share holder not Deemed Dividend

High Court of Calcutta Pradip Kumar Malhotra Vs CIT I.T.A. No. 219 of 2003 2 August 2011 J.P. Khaitan and C.S. Das for the Appellant P.K. Bhowmick for the Respondent Bhaskar Bhattacharya, J This appeal under Section 260A of the Income-tax (‘Act’) is at the instance of an assessee and is directed against an order dated April 23, 2003 read with the order dated July 10, 2003 passed by the Income-tax Appellate Tribunal, ‘C’ Bench, Kolkata, in ITA No.38(Kol) of 2002 for the Assessment Year 1999-2000 and thereby dismissing the appeal filed by the assessee. Be...