https://www.taxtmi.com/caselaws?id=9981 The court held that the Appellate Tribunal erred in overturning the Commissioner of Income-tax (Appeals)'s decision and reinstated the Income-tax Officer's order regarding undistributed income and additional income-tax liability under section 104 of the Income-tax Act, 1961. The court determined that the correct deduction for undistributed income should be Rs. 1,30,000, based on the legal obligation stemming from the cumulative preference share terms. The case was resolved in favor of the assessee, with a directive for recalculation and no costs awarded. en-us Fri, 30 Sep 2005 00:00:00 +0530 Sat, 04 Jul 2009 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9981 The court held that the Appellate Tribunal erred in overturning the Commissioner of Income-tax (Appeals)'s decision and reinstated the Income-tax Officer's order regarding undistributed income and additional income-tax liability under section 104 of the Income-tax Act, 1961. The court determined that the correct deduction for undistributed income should be Rs. 1,30,000, based on the legal obligation stemming from the cumulative preference share terms. The case was resolved in favor of the assessee, with a directive for recalculation and no costs awarded. Case-Laws Income Tax Fri, 30 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9981