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Loans/advances given to a concern is taxable as deemed dividend in the hands of shareholder

In CIT vs. Madhur Housing And Development Co, the Supreme Court held that any payment by a closely-held company by way of advance or loan to a concern in which a substantial shareholder is a member holding a substantial interest is deemed to be “dividend” on the presumption that the loans or advances would ultimately be made available to the shareholders of the company giving the loan or advance. However, the legal fiction in s. 2(22)(e) does not extend to, or broaden the concept of, a “shareholder”

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Valuation Report of Jewellery once made is effective for Four Assessment Years

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The recovery of vehicles by the financier not an offence - SC

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Mere Agreement To Sell The Leased Property To Tenant Would Not Terminate Landlord-Tenant Relationship

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