https://www.taxtmi.com/caselaws?id=395306 The ITAT allowed the appellant's appeal against the CIT(A) order for Assessment Year 2014-15. It held that the shares received were part of a family arrangement and not taxable benefits under Section 2(24)(iv) of the Income Tax Act. The ITAT found the Assessing Officer's observations beyond jurisdiction, as the transaction was deemed a family arrangement, leading to the appeal's success and the overturning of the CIT(A) decision. en-us Tue, 12 May 2020 00:00:00 +0530 Fri, 15 May 2020 18:37:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395306 The ITAT allowed the appellant's appeal against the CIT(A) order for Assessment Year 2014-15. It held that the shares received were part of a family arrangement and not taxable benefits under Section 2(24)(iv) of the Income Tax Act. The ITAT found the Assessing Officer's observations beyond jurisdiction, as the transaction was deemed a family arrangement, leading to the appeal's success and the overturning of the CIT(A) decision. Case-Laws Income Tax Tue, 12 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395306