https://www.taxtmi.com/caselaws?id=329094 The Tribunal ruled in favor of the appellant, quashing the CIT's order under section 263. The Tribunal found the CIT's assumption of jurisdiction under section 263 regarding the order passed under section 153A to be incorrect. Additionally, the Tribunal held that the direction to examine the taxability of deemed dividend under section 153A was unwarranted as it did not arise from the section 153A proceedings. The Tribunal also noted that the CIT's reliance on external comments and unrelated company records was improper. The Tribunal emphasized the need for adherence to legal procedures and clarity in tax assessments. en-us Wed, 08 Jun 2016 00:00:00 +0530 Wed, 22 Jun 2016 09:08:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329094 The Tribunal ruled in favor of the appellant, quashing the CIT's order under section 263. The Tribunal found the CIT's assumption of jurisdiction under section 263 regarding the order passed under section 153A to be incorrect. Additionally, the Tribunal held that the direction to examine the taxability of deemed dividend under section 153A was unwarranted as it did not arise from the section 153A proceedings. The Tribunal also noted that the CIT's reliance on external comments and unrelated company records was improper. The Tribunal emphasized the need for adherence to legal procedures and clarity in tax assessments. Case-Laws Income Tax Wed, 08 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329094