https://www.taxtmi.com/caselaws?id=285972 The appeal was dismissed in a case involving the deletion of additions under sec. 40(a)(ia) for payments to contractors and the disallowance of a Keyman Insurance Policy deduction. The Revenue's appeal against the deletion of additions for payments to contractors was rejected as the Tribunal upheld the CIT(A)'s decision, finding that the payments were within prescribed limits under section 194C. Similarly, the disallowance of the Keyman Insurance Policy deduction was dismissed as the Tribunal agreed with the CIT(A) that the policy was in the company's name and not assigned to another individual, with no evidence presented by the Revenue to the contrary. en-us Fri, 29 Jul 2011 00:00:00 +0530 Wed, 05 Feb 2020 16:15:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285972 The appeal was dismissed in a case involving the deletion of additions under sec. 40(a)(ia) for payments to contractors and the disallowance of a Keyman Insurance Policy deduction. The Revenue's appeal against the deletion of additions for payments to contractors was rejected as the Tribunal upheld the CIT(A)'s decision, finding that the payments were within prescribed limits under section 194C. Similarly, the disallowance of the Keyman Insurance Policy deduction was dismissed as the Tribunal agreed with the CIT(A) that the policy was in the company's name and not assigned to another individual, with no evidence presented by the Revenue to the contrary. Case-Laws Income Tax Fri, 29 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285972