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Loan / advances received by HUF could be treated as deemed dividend
Case Law Details
- Case Name
- Gopal and Sons (HUF) Vs CIT (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
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The appellant/assessee, in the instant appeal, has raised following question of law for determination:
“Whether in view of the settled principle that HUF cannot be a registered shareholder in a company and hence could not have been both registered and beneficial shareholder, loan/advances received by HUF could be deemed as dividend within the meaning of Section 2(22)(e) of the Income Tax Act, 1961 especially in view of the term “concern” as defined in the Section itself?”
2) The aforesaid question has arisen, which pertains to Assessment Year 2006-07, under the following circumstances:...
