https://www.taxtmi.com/caselaws?id=260280 The Tribunal upheld the jurisdiction under Section 147/148 of the Act, dismissing the challenge due to timely furnishing of reasons. Concerning unsecured loans, the addition of Rs. 4 lakhs was confirmed under Section 68 as transactions were deemed non-genuine. However, the addition under Section 2(22)(e) was deleted as no actual payment was made, not constituting deemed dividend. The appeal was partly allowed for statistical purposes, with the Tribunal providing a thorough analysis of each issue raised. en-us Wed, 06 May 2015 00:00:00 +0530 Mon, 08 Jun 2015 08:23:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260280 The Tribunal upheld the jurisdiction under Section 147/148 of the Act, dismissing the challenge due to timely furnishing of reasons. Concerning unsecured loans, the addition of Rs. 4 lakhs was confirmed under Section 68 as transactions were deemed non-genuine. However, the addition under Section 2(22)(e) was deleted as no actual payment was made, not constituting deemed dividend. The appeal was partly allowed for statistical purposes, with the Tribunal providing a thorough analysis of each issue raised. Case-Laws Income Tax Wed, 06 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260280