https://www.taxtmi.com/caselaws?id=396583 The High Court dismissed the appeal, ruling in favor of the assessee. The Court found the Assessing Officer's actions to be correct, invalidated the Director's orders under Section 263 of the Income Tax Act, and held that the corpus fund was not taxable. The judgment focused on the validity of dropped assessments without recorded reasons, the erroneous Section 263 order, the income assessment for 1997-98, and the taxability of the corpus fund. The Court's decision was based on legal principles and factual assessments, ultimately favoring the assessee in this case. en-us Tue, 09 Jun 2020 00:00:00 +0530 Sat, 11 Jul 2020 11:52:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396583 The High Court dismissed the appeal, ruling in favor of the assessee. The Court found the Assessing Officer's actions to be correct, invalidated the Director's orders under Section 263 of the Income Tax Act, and held that the corpus fund was not taxable. The judgment focused on the validity of dropped assessments without recorded reasons, the erroneous Section 263 order, the income assessment for 1997-98, and the taxability of the corpus fund. The Court's decision was based on legal principles and factual assessments, ultimately favoring the assessee in this case. Case-Laws Income Tax Tue, 09 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396583