https://www.taxtmi.com/caselaws?id=332331 The Tribunal upheld the CIT(A)'s decisions, dismissing the Revenue's appeal. The addition for inflated purchase price of shares was deleted due to lack of evidence for sham transactions and compliance with accounting standards. The disallowance of Keyman Insurance Policy premiums was overturned based on the directors' roles in the company and legal precedents supporting deductibility. en-us Wed, 03 Aug 2016 00:00:00 +0530 Thu, 15 Sep 2016 09:19:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332331 The Tribunal upheld the CIT(A)'s decisions, dismissing the Revenue's appeal. The addition for inflated purchase price of shares was deleted due to lack of evidence for sham transactions and compliance with accounting standards. The disallowance of Keyman Insurance Policy premiums was overturned based on the directors' roles in the company and legal precedents supporting deductibility. Case-Laws Income Tax Wed, 03 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332331