Provision of Section 2(22)(e) cannot be attracted to current account transactions

M/s Mirik Commercial Pvt. Ltd. Vs Pr. CIT (ITAT Kolkata)

The purpose of Section 2(22)(e) of the Act is to tax the benefit extended by private limited company to its shareholders holding shares not less than 10% as beneficial owner of shares (not being shares entitled to a fixed rate of dividend income). There is no disp

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