Loan to HUF is deemed dividend when shareholder-Karta has substantial interest in HUF
Facts of the Case The assessee is a Hindu Undivided Family (HUF). During the previous year to the Assessment Year, the assessee had received certain advances from one M/s. G.S. Fertilizers (P) Ltd. In the audit report and annual return for the relevant period, which was filed by it before the Registrar of Companies… Read More »