Normal Business Advances which are not in the nature of ‘Loan’ is not Deemed Dividend

29
01/2020

Normal Business Advances which are not in the nature of ‘Loan’ is not Deemed Dividend

The INCOME TAX APPELLATE TRIBUNAL DELHI BENCH, ITA No. 6892/Del/2015, Asstt. Commissioner of Income Tax vs Shri Anumod Sharma, has held that held that the transaction where received in advance in the normal course of business and which is not taken as a loan cannot be considered as Deemed Dividend.

Full News Link:- https://www.taxscan.in/transaction-advance-business-loan-deemed-dividend-itat/45441/

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