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S. 2(22)(e) deemed dividend not applicable on amount received from Subsidiary Co. as part of Regular Business Transactions
Case Law Details
- Case Name
- The Commissioner of Income Tax Vs. M/s Malayala Manorama Co. Ltd. (Kerala High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Kerala High Court
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CIT Vs. M/s Malayala Manorama Co. Ltd. (Kerala High Court)
Amounts under the disputed heads were being received by the Assessee from its Subsidiary Company only as part of regular business transactions, which was being accounted properly. The change in circumstance, as to the distribution of dailies/publications in the Gulf, causing the same to be transported through the Agent directly from Trivandrum to the Gulf, [instead of forwarding the same to Bombay, where the registered office of the Subsidiary Company is situated and then to have it transported from Mumbai to the Gulf,...
