Gopal and Sons (HUF) vs CIT Kolkata

 Gopal and Sons (HUF) vs CIT Kolkata -XI - Supreme Court Important Judgment 2017 - 


On 4th January, 2017, in the case of Gopal and Sons (HUF) vs CIT Kolkata -XI [Civil Appeal No. 12274 of 2016], it was held that even if a Hindu Undivided Family (HUF) is not a registered shareholder in a company, as per the provisions of Section 2(22)(e) of the Income Tax Act, 1961, once the payment is received by the HUF and a shareholder is a member of the said HUF and he has substantial interest in the HUF, the payment made to the HUF shall constitute deemed dividend within the meaning of clause (e) of Section 2(22) of the Act.


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