Penalty levied u/s 271(1)(c) - addition u/s 2(22)(e) - deemed ...

Case Laws Income Tax

July 18, 2023

Penalty levied u/s 271(1)(c) - addition u/s 2(22)(e) - deemed dividend - While levying the penalty, the deeming provisions can be applied to a limited extent and instant case was concerned with the imposition of penalty under section 271(1)(c), which was not sustainable in so far as the assessee-company was not a registered shareholder of loan advancing company who had vien loan / advance to the assessee-company. - AT

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Penalty levied u/s 271(1)(c) - addition u/s 2(22)(e) - deemed ...

Case Laws Income Tax

July 18, 2023

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