https://www.taxtmi.com/caselaws?id=366329 The appellant's appeal against the disallowance of the claim for exemption under Section 10B of the Income-tax Act was allowed by the CIT(Appeals) and confirmed by the Tribunal. The issue of deemed dividend under Section 2(22)(e) was also decided in favor of the appellant by the Tribunal. The Tribunal held that reopening the assessment based on the ground of limitation for filing the return of income would amount to overturning the order of the CIT(Appeals), which is impermissible. The Tribunal set aside the lower authorities' orders and allowed the appeal filed by the assessee, emphasizing the importance of upholding finality in judicial decisions. en-us Tue, 28 Aug 2018 00:00:00 +0530 Sat, 01 Sep 2018 08:21:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366329 The appellant's appeal against the disallowance of the claim for exemption under Section 10B of the Income-tax Act was allowed by the CIT(Appeals) and confirmed by the Tribunal. The issue of deemed dividend under Section 2(22)(e) was also decided in favor of the appellant by the Tribunal. The Tribunal held that reopening the assessment based on the ground of limitation for filing the return of income would amount to overturning the order of the CIT(Appeals), which is impermissible. The Tribunal set aside the lower authorities' orders and allowed the appeal filed by the assessee, emphasizing the importance of upholding finality in judicial decisions. Case-Laws Income Tax Tue, 28 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366329