https://www.taxtmi.com/caselaws?id=62942 The Tribunal held that the Commissioner of Income-tax (CIT) did not have jurisdiction under section 263 of the Income-tax Act, 1961 to examine the issue of deemed dividend under section 2(22)(d). The Tribunal found that the Scheme of Arrangement did not result in deemed dividend as it involved reorganization, not reduction, of capital. The Tribunal concluded that the order of the Assessing Officer was not erroneous, and the appeal of the assessee was allowed, quashing the order passed under section 263. en-us Tue, 21 Sep 1999 00:00:00 +0530 Tue, 22 Feb 2011 13:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62942 The Tribunal held that the Commissioner of Income-tax (CIT) did not have jurisdiction under section 263 of the Income-tax Act, 1961 to examine the issue of deemed dividend under section 2(22)(d). The Tribunal found that the Scheme of Arrangement did not result in deemed dividend as it involved reorganization, not reduction, of capital. The Tribunal concluded that the order of the Assessing Officer was not erroneous, and the appeal of the assessee was allowed, quashing the order passed under section 263. Case-Laws Income Tax Tue, 21 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62942