https://www.taxtmi.com/caselaws?id=29097 A final finding in prior proceedings under section 23A of the Indian Income-tax Act, 1922 between the same parties for the same assessment year binds later proceedings, especially where the assessee had itself admitted that it was not a company in which the public were substantially interested. On that footing, the assessee could not reopen the issue, the concealed profits of Rs. 19,43,222 were treated as available for distribution, and the liability was to distribute the whole distributable profits rather than only 60%. en-us Tue, 08 Dec 1981 00:00:00 +0530 Wed, 10 Mar 2010 17:22:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29097 A final finding in prior proceedings under section 23A of the Indian Income-tax Act, 1922 between the same parties for the same assessment year binds later proceedings, especially where the assessee had itself admitted that it was not a company in which the public were substantially interested. On that footing, the assessee could not reopen the issue, the concealed profits of Rs. 19,43,222 were treated as available for distribution, and the liability was to distribute the whole distributable profits rather than only 60%. Case-Laws Income Tax Tue, 08 Dec 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29097