https://www.taxtmi.com/caselaws?id=260208 The case challenged the protective addition made by the Assessing Officer due to the demutualization Scheme of the Bombay Stock Exchange. The court upheld the addition, citing benefits from the scheme under Section 55(ab) of the Income Tax Act. Despite concerns about lack of opportunity for a hearing and similarity with prior cases, the court dismissed the appeal, emphasizing the need for protective assessments for future challenges and aligning with precedent judgments. The deletion of the protective addition towards depreciation claimed by the assessee was also addressed, with the court ultimately upholding the decision to delete the addition. en-us Fri, 10 Oct 2014 00:00:00 +0530 Thu, 04 Jun 2015 18:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260208 The case challenged the protective addition made by the Assessing Officer due to the demutualization Scheme of the Bombay Stock Exchange. The court upheld the addition, citing benefits from the scheme under Section 55(ab) of the Income Tax Act. Despite concerns about lack of opportunity for a hearing and similarity with prior cases, the court dismissed the appeal, emphasizing the need for protective assessments for future challenges and aligning with precedent judgments. The deletion of the protective addition towards depreciation claimed by the assessee was also addressed, with the court ultimately upholding the decision to delete the addition. Case-Laws Income Tax Fri, 10 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260208