https://www.taxtmi.com/caselaws?id=70144 The Tribunal held that the re-opening of the assessment under Section 147(a) for the year 1964-65 was improper as the assessee had disclosed all necessary details during the original assessment. It also ruled that the inclusion of dividend income was unjustified, as the dividends were part of the purchase price of shares transferred. The Tribunal upheld the deletion of additional capital gains under Section 52(2) and found no evidence to support the claim of benami shareholding. For the years 1965-66, 1967-68, and 1968-69, the Tribunal directed a reasonable disallowance of 50% of the interest payments instead of the entire amount. en-us Mon, 28 Feb 1977 00:00:00 +0530 Thu, 14 Apr 2011 15:41:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70144 The Tribunal held that the re-opening of the assessment under Section 147(a) for the year 1964-65 was improper as the assessee had disclosed all necessary details during the original assessment. It also ruled that the inclusion of dividend income was unjustified, as the dividends were part of the purchase price of shares transferred. The Tribunal upheld the deletion of additional capital gains under Section 52(2) and found no evidence to support the claim of benami shareholding. For the years 1965-66, 1967-68, and 1968-69, the Tribunal directed a reasonable disallowance of 50% of the interest payments instead of the entire amount. Case-Laws Income Tax Mon, 28 Feb 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70144