https://www.taxtmi.com/caselaws?id=394122 The Tribunal allowed the appeal, determining that the proceedings under Section 263 were invalid. It held that the AO correctly applied the Income Tax Act provisions in assessing the taxable income and tax liability. Emphasizing adherence to statutory provisions and judicial precedents, the Tribunal set aside the CIT's order, ruling in favor of the assessee on both issues regarding the validity of Section 263 proceedings and the taxation of dividend income from specified foreign companies. en-us Fri, 06 Mar 2020 00:00:00 +0530 Fri, 09 Dec 2022 14:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394122 The Tribunal allowed the appeal, determining that the proceedings under Section 263 were invalid. It held that the AO correctly applied the Income Tax Act provisions in assessing the taxable income and tax liability. Emphasizing adherence to statutory provisions and judicial precedents, the Tribunal set aside the CIT's order, ruling in favor of the assessee on both issues regarding the validity of Section 263 proceedings and the taxation of dividend income from specified foreign companies. Case-Laws Income Tax Fri, 06 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394122