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ITAT Kolkata – Section 263 Revision on Deemed Dividend Quashed; Loan Not Taxable in Company’s Hands

Case Law Details

Case Name : JHV Construction Co. Pvt. Ltd. Vs DCIT (ITAT Kolkata)
Related Assessment Year : 2014-15
Courts : All ITAT ITAT Kolkata
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JHV Construction Co. Pvt. Ltd. Vs DCIT (ITAT Kolkata)

ITAT Kolkata – Revision u/s 263 on Deemed Dividend Issue Quashed; Loan to Concern Not Taxable in Company’s Hands

In JHV Construction Co. Pvt. Ltd. (AY 2014-15), the Pr.CIT invoked revision u/s 263 alleging that loan received from Welcome Distilleries Pvt. Ltd. should have been treated as deemed dividend u/s 2(22)(e) due to common shareholding. The ITAT noted that although a common shareholder h

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Name: CA Vijayakumar Shetty
Qualification: CA in Practice
Company: Shetty & Co, Chartered Accountants, Mangalore
Location: Mangalore, Karnataka, India
Member Since: 17 Feb 2018 | Total Posts: 4550
CA Vijayakumar Shetty qualified in 1994 and in practice since then. Founding partner of Shetty & Co. He is a graduate from St Aloysius College, Mangalore . View Full Profile

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