Tag Archives: Gopal And Sons (HUF) v. CIT A.K. SIKRI AND ABHAY MANOHAR SAPRE JJ.

Loan to HUF is deemed dividend when shareholder-Karta has substantial interest in HUF

By | January 6, 2017

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 »