https://www.taxtmi.com/caselaws?id=65544 FIPL and HIPL were held to be separate legal entities, not conduits of IXS, by the Tribunal. The companies operated independently with arm's length transactions, leading to a direction for their income to be computed independently. In the case of IXS, reassessment proceedings were deemed invalid due to the absence of failure to disclose material facts, resulting in the cancellation of the proceedings and dismissal of Revenue's appeals. The reassessment proceedings were beyond the limitation period without any fault on the part of the assessee. en-us Fri, 28 Sep 2007 00:00:00 +0530 Wed, 16 Feb 2011 15:00:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65544 FIPL and HIPL were held to be separate legal entities, not conduits of IXS, by the Tribunal. The companies operated independently with arm's length transactions, leading to a direction for their income to be computed independently. In the case of IXS, reassessment proceedings were deemed invalid due to the absence of failure to disclose material facts, resulting in the cancellation of the proceedings and dismissal of Revenue's appeals. The reassessment proceedings were beyond the limitation period without any fault on the part of the assessee. Case-Laws Income Tax Fri, 28 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65544