WHERE UNSECURED LOAN FROM COMPANY TO FIRM IS TAXABLE, IN HANDS OF FIRM OR PARTNER WHO HOLDS SHARES? скачать в хорошем качестве

WHERE UNSECURED LOAN FROM COMPANY TO FIRM IS TAXABLE, IN HANDS OF FIRM OR PARTNER WHO HOLDS SHARES?

link for full case: https://taxlawsonline.com/agtlol.html... Case Summary: [2023] 455 ITR 449 ( Ori ) [ IN THE ORISSA HIGH COURT ] MAHIMANANDA MISHRA v. ASSISTANT COMMISSIONER OF INCOME-TAX DR. S. MURALIDHAR C. J. and M. S. RAMAN J. January 10, 2023. Section. 2(22)(e) Assessment Year: 2011-12 Favouring: Assessee 2(22): Dividend WHERE UNSECURED LOAN FROM COMPANY TO FIRM IS TAXABLE, IN HANDS OF FIRM OR PARTNER WHO HOLDS SHARES? The assessee was a firm of 4 partners One of the partners MM was a director in a company holding shares therein In the A.Y 2011-12 the company gave up unsecured loan to assessee firm part of which was received in cash and was treated by A.O. as deemed dividend u/s 2(22)(e ) in the hands of assessee firm CIT(A) held that the amount could be treated as deemed dividend only in the hands of shareholder since he was beneficial owner of the shares in the company and allowed the appeal of the assessee The Tribunal remanded the matter to CIT(A) on the ground that it was not clear whether deemed dividend should be taxed in the hands of partner or in the hands of assessee firm High Court on appeal held that deemed dividend should be taxed in the hands of director/ partner and not in the hands of assessee firm Section 2(22)(e ), the deemed dividend is taxable in the hands of shareholder and not the assessee firm which did not hold the shares in the company Tribunal needlessly remanded the matter to the CIT(A) #MAHIMANANDAMISHRAvASSISTANTCOMMISSIONEROFINCOMETAX #section2(22)(e) #WHEREUNSECUREDLOANFROMCOMPANYTOFIRMISTAXABLE,INHANDSOFFIRMORPARTNERWHOHOLDSSHARES? #ORISSAHIGHCOURT #IncomeTaxNotices #IncomeTaxCases #incometaxcasesanalysis #IncomeTaxLaw #advocateamitkumargupta #9811291390 (Call only after taking time on whatsApp) #amitkrg246@gmail.com #amitkrg246@yahoo.com Link for some important videos: 1) WHETHER TRIBUNAL CAN REMAND MATTER IN ENTIRETY WHERE DEPARTMENT DID NOT FILE CROSS APPEALS?-    • WHETHER TRIBUNAL CAN REMAND MATTER IN ENTI...   2) WHETHER ASSESSEE HAS ALSO TO CHALLENGE THE FINDINGS OF THE A.O THAT NOTICE HAS BEEN SERVED?-    • WHETHER ASSESSEE HAS ALSO TO CHALLENGE THE...   3) WHETHER EXTENDED TIME LIMIT U/S 149(1)(b) CAN BE USED ON THE BASIS OF SALES CONSIDERATION U/S 48?-    • WHETHER EXTENDED TIME LIMIT U/S 149(1)(b) ...   4) WHETHER NOTICE SENT TO SECONDARY EMAIL IS VALID IF NOT SENT TO PRIMARY E-MAIL U/S 148?-    • WHETHER NOTICE SENT TO SECONDARY EMAIL IS ...   5) WHETHER ENTRIES IN BOOKS OF ACCOUNTS CONCLUSIVE TO DETERMINE TAXABLE INCOME OF ASSESSEE?-    • WHETHER ENTRIES IN BOOKS OF ACCOUNTS CONCL...