https://www.taxtmi.com/caselaws?id=306906 The Tribunal partly allowed the appeal, directing the Assessing Officer to verify and correct calculation errors and make appropriate adjustments to the value of assets as per Rule 11UA. The Tribunal upheld the addition under Section 56(2)(viia) for transactions within family-owned group companies, emphasizing strict interpretation of the provision. The jurisdictional issue was remanded to verify the transfer order under Section 127 for transferring cases between Assessing Officers. en-us Fri, 09 Aug 2019 00:00:00 +0530 Sun, 05 Mar 2023 16:59:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306906 The Tribunal partly allowed the appeal, directing the Assessing Officer to verify and correct calculation errors and make appropriate adjustments to the value of assets as per Rule 11UA. The Tribunal upheld the addition under Section 56(2)(viia) for transactions within family-owned group companies, emphasizing strict interpretation of the provision. The jurisdictional issue was remanded to verify the transfer order under Section 127 for transferring cases between Assessing Officers. Case-Laws Income Tax Fri, 09 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306906