https://www.taxtmi.com/caselaws?id=278188 The Tribunal upheld the CIT(A)'s decisions to delete additions on account of deemed dividend under section 2(22)(e) and disallowance of keyman insurance policy. The Tribunal ruled that the deemed dividend could only be taxed in the hands of the shareholder, and since the assessee was not a shareholder, the additions were deleted. Additionally, the Tribunal found the keyman insurance policy premium to be an allowable expense based on relevant legal provisions and dismissed the Revenue's appeals. en-us Thu, 07 Dec 2017 00:00:00 +0530 Thu, 17 Jan 2019 06:58:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278188 The Tribunal upheld the CIT(A)'s decisions to delete additions on account of deemed dividend under section 2(22)(e) and disallowance of keyman insurance policy. The Tribunal ruled that the deemed dividend could only be taxed in the hands of the shareholder, and since the assessee was not a shareholder, the additions were deleted. Additionally, the Tribunal found the keyman insurance policy premium to be an allowable expense based on relevant legal provisions and dismissed the Revenue's appeals. Case-Laws Income Tax Thu, 07 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278188