1,62,745/ .
Obviously, number of additions were made which companytributed to the enhancement of income to the aforesaid figure, in companytrast with the paltry income declared by the assessee.
The Assessing Officer for short, AO carried out the assessment resulting into passing of assessment orders dated 31st December, 2008 whereby the net income of the assessee was calculated at Rs.
1,30,31,280/ .
The aforesaid question has arisen, which pertains to Assessment Year 2006 07, under the following circumstances The assessee herein had filed the return in respect of the said Assessment Year declaring his total income at Rs.
K. SIKRI, J. The appellant assessee, in the instant appeal, has raised following question of law for determination Whether in view of the settled principle that HUF cannot be a registered shareholder in a companypany and hence companyld number have been both registered and beneficial shareholder, loan advances received by HUF companyld be deemed as dividend within the meaning of Section 2 22 e of the Income Tax Act, 1961 especially in view of the term companycern as defined in the Section itself?
