https://www.taxtmi.com/caselaws?id=347235 The ITAT partially allowed the appeals, remanding key issues to the AO for further verification. The penalty under Section 271(1)(c) was quashed, allowing the AO to recommence penalty proceedings after reassessment. Detailed verification and proper classification of transactions were emphasized to determine the accurate quantum of deemed dividend. en-us Fri, 30 Jun 2017 00:00:00 +0530 Thu, 31 Aug 2017 16:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347235 The ITAT partially allowed the appeals, remanding key issues to the AO for further verification. The penalty under Section 271(1)(c) was quashed, allowing the AO to recommence penalty proceedings after reassessment. Detailed verification and proper classification of transactions were emphasized to determine the accurate quantum of deemed dividend. Case-Laws Income Tax Fri, 30 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347235