“Section 185(2)”
The decision most relied on for Section 185(2) is 185 Taxman 416/319 ITR 306 (SC) 2. Aimil Ltd. (supra) 3. CIT v. NispoPolyfabriks (213 Taxmann 376), cited in 151 judgments on BharatTax.
Leading authorities on Section 185(2)
Employee contributions to provident fund or other welfare funds, if deposited by the employer before the due date for filing the return of income under section 139(1), are allowable as a deduction and cannot be disallowed under section 43B of the Income-tax Act.
Registration under Section 12A and approval under Section 80G are distinct from assessment; issues relevant to assessing income under Section 11 cannot be grounds for rejecting an application for registration or approval.
When lending money is not the business of a company, loans or advances given to an assessee-shareholder are treated as deemed dividends under section 2(22)(e) of the Income-tax Act. The provisions of section 2(22)(e) apply to a company that has taken a loan from its subsidiary.
