Thursday 7 January 2016

Sum received by 'Subrata Roy' from his firm can't be deemed as dividend even if such firm indebted t

IT: SLP dismissed against High Court's order wherein it was held that amount advanced to assessee-partner by firm could not be taxed as deemed dividend merely on ground that some amount lying in firm's account was collected by firm on behalf of company of which assessee was a MD-cum-shareholder

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