https://www.taxtmi.com/caselaws?id=197287 The Tribunal, after reviewing factual inaccuracies highlighted by the assessee, found errors in its earlier conclusions regarding the scheme of Secured Premium Notes (SPNs). The Tribunal acknowledged that the SPNs were not designed exclusively for promoters and that the funds received through SPNs were not equivalent to equity capital. Consequently, the Tribunal allowed the assessee's Miscellaneous Application, recalled its previous finding, and restored the ground for re-adjudication. The order was pronounced in Ahmedabad on 28th October 2016. en-us Fri, 28 Oct 2016 00:00:00 +0530 Mon, 01 Jan 2018 18:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197287 The Tribunal, after reviewing factual inaccuracies highlighted by the assessee, found errors in its earlier conclusions regarding the scheme of Secured Premium Notes (SPNs). The Tribunal acknowledged that the SPNs were not designed exclusively for promoters and that the funds received through SPNs were not equivalent to equity capital. Consequently, the Tribunal allowed the assessee's Miscellaneous Application, recalled its previous finding, and restored the ground for re-adjudication. The order was pronounced in Ahmedabad on 28th October 2016. Case-Laws Income Tax Fri, 28 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197287