https://www.taxtmi.com/caselaws?id=19240 The court ruled in favor of the assessee, holding that the Inspecting Assistant Commissioner exceeded his jurisdiction by directing the taxation of profit from amalgamation not previously challenged. The judgment emphasized the limited scope of the Inspecting Assistant Commissioner's authority and the necessity of adhering to the directions of the appellate authority in tax assessments. The court upheld the Income-tax Appellate Tribunal's decision to disallow the addition under section 52(2) and delete the amalgamation profit addition, ultimately concluding the case in favor of the assessee against the Revenue. en-us Fri, 20 Jan 1995 00:00:00 +0530 Wed, 04 Nov 2009 18:10:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19240 The court ruled in favor of the assessee, holding that the Inspecting Assistant Commissioner exceeded his jurisdiction by directing the taxation of profit from amalgamation not previously challenged. The judgment emphasized the limited scope of the Inspecting Assistant Commissioner's authority and the necessity of adhering to the directions of the appellate authority in tax assessments. The court upheld the Income-tax Appellate Tribunal's decision to disallow the addition under section 52(2) and delete the amalgamation profit addition, ultimately concluding the case in favor of the assessee against the Revenue. Case-Laws Income Tax Fri, 20 Jan 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19240