https://www.taxtmi.com/caselaws?id=307358 The appeal was dismissed, upholding the Principal Commissioner of Income Tax's order under section 263 as correct. The Assessing Officer was directed to re-do the assessment after examining the valuation of optionally convertible cumulative preference shares and verifying the applicability of provisions under section 56(2)(viib) and section 68, providing the assessee with an opportunity to be heard. en-us Tue, 05 Nov 2019 00:00:00 +0530 Fri, 07 Apr 2023 21:30:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307358 The appeal was dismissed, upholding the Principal Commissioner of Income Tax's order under section 263 as correct. The Assessing Officer was directed to re-do the assessment after examining the valuation of optionally convertible cumulative preference shares and verifying the applicability of provisions under section 56(2)(viib) and section 68, providing the assessee with an opportunity to be heard. Case-Laws Income Tax Tue, 05 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307358