Tuesday, June 23, 2009 |
1. Bhaumik Colour (P) Ltd. (Mumbai ITAT) Decision on 2(22)(e)Deemed dividend can be assessed only in hands of a person who is a shareholder of lender company. If a person is a registered shareholder but not beneficial shareholder then provisions of section 2(22)(e) would not apply and similarly if a person is a beneficial shareholder but not a registered shareholder then also provisions of section 2(22)(e) would not apply.
2. MUKAND GLOBAL FINANCE LTD. (Mumbai ITAT) Miscellaneous issues like Section 50 & 32(1)(iii), section 47 & 49, section 14A, section 115JA.
3. LOKPRIYA HOUSING DEVELOPMENT PVT LTD. (Mumbai ITAT) Section-147 and penalty u/s 271(1) (c) It is well settled that there should be reasonable belief and it should be based on record, for coming to a conclusion that income has escaped assessment when the reason cannot be produced, there is no other alternative but to draw adverse inference and agree with the contention of the assessee.
NOTE :Last date for submission hard copy of declaration of MEF for the year 2009-2010 to The Director, PD Directorate, ICAI, New Delhi - 110002 is 30-06-2009.
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