Mr. R, Managing Director of Riviera Alloys Pvt. Ltd., holds 75% of its paid-up share capital of 25 lakhs. The balance in the General Reserve of the…

Mr. R, Managing Director of Riviera Alloys Pvt. Ltd., holds 75% of its paid-up share capital of 25 lakhs. The balance in the General Reserve of the company as on 31.03.2025 was 8 lakhs. On 01.04.2025, the company advanced an interest-free loan of 9.50 lakhs to its Supervisor, who draws a monthly salary of 16,000. Subsequently, on 28.04.2025, the Supervisor advanced the same amount to Mr. R. Determine the amount that would be treated as deemed dividend under section 2(22)(e) of the Income-tax Act, 1961.