https://www.taxtmi.com/caselaws?id=247504 The ITAT Mumbai upheld the CIT(A)'s decision annulling the reassessment and rejecting the Revenue's appeal. The tribunal found the reopening of assessment as bad in law, emphasizing that deemed dividend could only be assessed in the hands of the shareholder. As the assessment was invalid, there was no need to consider the appeal on merits. The Revenue's appeal was dismissed, affirming the CIT(A)'s ruling. The judgment was delivered on April 30, 2014. en-us Wed, 30 Apr 2014 00:00:00 +0530 Tue, 13 May 2014 14:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247504 The ITAT Mumbai upheld the CIT(A)'s decision annulling the reassessment and rejecting the Revenue's appeal. The tribunal found the reopening of assessment as bad in law, emphasizing that deemed dividend could only be assessed in the hands of the shareholder. As the assessment was invalid, there was no need to consider the appeal on merits. The Revenue's appeal was dismissed, affirming the CIT(A)'s ruling. The judgment was delivered on April 30, 2014. Case-Laws Income Tax Wed, 30 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247504