TaxGuru Newsletter Subscription
Information You Can Rely On.
Income Tax - Article discusses about Meaning of dividend, Head of taxability and applicable tax rate, Relief from double taxation, Concessional rate of tax to dividends received from foreign specified company,...
Read MoreIncome Tax - Author explains the intricacies and nuances of Section 2(22)(e) of the Income Tax Act, 1961 and the unsettled position on the controversy regarding the applicability of the provisions of deemed dividend....
Read MoreIncome Tax - The Finance Bill 2018, has proposed to cover deemed dividend u/s 2(22)(e) of Income Tax Act, also for levy of dividend distribution tax @ 30%, u/s 115-O of Income Tax Act, in the hands of a closely held company paying such deemed dividends. Apprehensions have been raised in some quarters as to whether the proposed amendment will result in...
Read MoreIncome Tax - Deemed dividend U/s. 2(22(e) is proposed to be taxed at the rate of 30 per cent. (without grossing up) in order to prevent camouflaging dividend in various ways such as loans and advances....
Read MoreIncome Tax - The important aspect while planning restructuring proposals is the applicability of deemed dividend provisions that was under the controversial route which is now put to rest with the latest ruling by the Apex Court. The muddle of taxability under deemed dividend as per section 2(22)(e) is now cleared by the latest ruling of the Apex Cou...
Read MoreRajesh Pagaria Vs I.T.O. Ward 48(2) (ITAT Kolkata) - Provisions of section 2(22)(e) related to deemed dividend are not applicable where the relevant transactions are in the nature of current account transactions and not loans and advances. ...
Read MoreM/s Mirik Commercial Pvt. Ltd. Vs Pr. Commissioner of Income Tax (ITAT Kolkata) - 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 inco...
Read MoreM/s Sree Krishna Gyanodya Flour Mills Pvt. Ltd. Vs. Pr. Commissioner of Income Tax (ITAT Kolkata) - A division bench of the ITAT Kolkata comprising N.V.Vasudevan, Judicial Member and Waseem Ahmed, Accountant Member were ruled that the provisions of deemed dividend under section 2(22)(e) of the Income Tax Act would not applicable to Current Account Transactions....
Read MoreShri Vinod Kumar Mittal Vs ITO (ITAT Jaipur) - झrovision of S. 2(22)(e) along with its Explanations – 2 as stood at the relevant point of time, shall only mean that the expression accumulated profits shall only include all the profits of the company up to the date of distribution which are normal revenue profits...
Read MoreCommissioner of Income Tax Vs. M/s Prasidh Leasing Limited (Delhi High Court) - While hearing the case of Commissioner of Income Tax vs M/s Prasidh Leasing Limited, the Delhi High Court ruled that Provisions of Deemed Dividend applicable when Assessee diverted Advance amount received for procuring import licenses for purchase of shares under Section 2(22)(e) of the Income Tax A...
Read MoreCircular No. 19/2017-Income Tax - (12/06/2017) - Section 2(22) clause (e) of the Income Tax Act, 1961 (the Act) provides that dividend includes any payment by a company, not being a company in which the public are substantially interested, of any sum by way of advance or loan to a shareholder, being a person who is the beneficial owner of shares...
Read MoreRajesh Pagaria Vs I.T.O. Ward 48(2) (ITAT Kolkata) -
M/s Mirik Commercial Pvt. Ltd. Vs Pr. Commissioner of Income Tax (ITAT Kolkata) -
M/s Sree Krishna Gyanodya Flour Mills Pvt. Ltd. Vs. Pr. Commissioner of Income Tax (ITAT Kolkata) -
Shri Vinod Kumar Mittal Vs ITO (ITAT Jaipur) -
Commissioner of Income Tax Vs. M/s Prasidh Leasing Limited (Delhi High Court) -
M/s. Kerala Transport Co. Vs. The Asst. Commissioner of Income-tax (ITAT Cochin) -
Mr. Tushar Kothari Vs. DCIT (ITAT Delhi) -
The Commissioner of Income Tax Vs. M/s Malayala Manorama Co. Ltd. (Kerala High Court) -
