Section 2(22)(e) of Income Tax Act is applicable only to registered shareholders

DCIT Vs Gemini Traze RFID Private Limited (ITAT Chennai) Introduction: The recent case of DCIT vs. Gemini Traze RFID Private Limited before the ITAT Chennai revolves around the interpretation of Section 2(22)(e) of the Income Tax Act pertaining to deemed dividend status. The dispute arose from an addition made by the Assessing Officer (AO) for the Assessment Year 2008-09, which was subsequently contested by the assessee. Detailed Analysis: The appeal by the Revenue challenges the decision of the Commissioner of Income Tax (Appeals) [CIT(A)], wherein the addition made under Section 2(22)(e) of ...