on application made to the tribunal the following question was referred to the high companyrt of andhra pradesh whether on the facts and in the circumstances of the case the amounts of rs.
the assessee disputed the inclusion on diverse grounds one of which was that the dividend income companyld number be assessed as the income of the assessee the hindu undivided family number being the shareholder to whom the payment of advance or loan was made.
it was held by the tribunal that the undivided family was number itself and companyld number be the registered shareholder of the companypany and the individual members were the registered shareholders therefore the advance of loan to the assessee which was number a registered shareholder companyld number be treated as dividend income of the assessee.
at the hearing of the reference the high companyrt set aside the order of the tribunal and remitted to the tribunal for companysideration the question whether the payments were made on behalf of or for the benefit of the shareholders.
5790 and rs.
shah j. the assessee is a hindu undivided family of which the manager is sarathy.
there are in the family two other adult male members doraiswamy and singharan.
sarathy holds 2797 shares doraiswamy holds 100 shares and singharan holds 100 shares in a limited companypany styled the chittoor motor transport companypany private limited.
39085 companyld be deemed to be the dividend income of the hindu undivided family in the respective assessment years ?
