Loan to Directors

hussain (Querist) 19 September 2009 This query is : Resolved
Sir,
There is any traminal order for the deemed dividend assessable under Section 2 (22)(e).riven

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Manish Singh (Expert) 19 September 2009
what is terminal order?riven

Vineet (Expert) 08 December 2009
What do you actually want Mr Riven. The deemed dividend provisions are applicable for loans/advances to all shareholders having holding more than 10% irrespective of the fact whether they are Director or not.

Vineet (Expert) 13 December 2009
Constitutional validity of this provision has been upheld by Supreme Court in Punjab Distilliary Industries Ltd 57 ITR 1 case. There are subsequently various case laws on various aspects of these provisions such as nature of advance, sharholder, accumulated profit etc.

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