https://www.taxtmi.com/caselaws?id=274450 The tribunal partially allowed the assessee's appeal, deleting the addition related to chits but upholding the addition concerning the loan passed on to the assessee, which was linked to a loan taken by the company for a Keyman Insurance Policy. The advances related to chits were considered business transactions and not deemed dividends under section 2(22)(e) of the IT Act. en-us Thu, 31 May 2018 00:00:00 +0530 Wed, 15 Aug 2018 16:25:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274450 The tribunal partially allowed the assessee's appeal, deleting the addition related to chits but upholding the addition concerning the loan passed on to the assessee, which was linked to a loan taken by the company for a Keyman Insurance Policy. The advances related to chits were considered business transactions and not deemed dividends under section 2(22)(e) of the IT Act. Case-Laws Income Tax Thu, 31 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274450