Income Tax: Section 2(22)(e) Act can be invoked in respect of shareholder

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 against order dated ...