https://www.taxtmi.com/caselaws?id=327476 The Tribunal dismissed the Department's appeal and allowed the assessee's appeal. It held that the additional payments were not claimed as expenses, so no disallowance could be made. The deemed dividend could not be taxed as the assessee was not a shareholder of the payer companies. Additionally, the disallowance under Section 40A(3) was deemed inapplicable as no deduction was claimed. The order was pronounced on 10/2/2016. en-us Wed, 10 Feb 2016 00:00:00 +0530 Thu, 12 May 2016 01:20:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327476 The Tribunal dismissed the Department's appeal and allowed the assessee's appeal. It held that the additional payments were not claimed as expenses, so no disallowance could be made. The deemed dividend could not be taxed as the assessee was not a shareholder of the payer companies. Additionally, the disallowance under Section 40A(3) was deemed inapplicable as no deduction was claimed. The order was pronounced on 10/2/2016. Case-Laws Income Tax Wed, 10 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327476