https://www.taxtmi.com/caselaws?id=309306 The Appeal challenging the Income Tax Appellate Tribunal's order dismissing the revenue's Appeal was dismissed by the Bombay High Court. The Court found that the Tribunal's reliance on its own order in a different case was misplaced and that the Assessing Officer's conclusion on the applicability of Section 28(iv) of the Income Tax Act, 1961 should not have been disregarded. The Court upheld the Tribunal's decision that Section 28(iv) did not apply in the case involving the disputed transaction and Memorandum of Understanding with M/s Highland Realities Pvt Ltd. The Appeal was dismissed without costs. en-us Wed, 18 Jun 2014 00:00:00 +0530 Wed, 23 Aug 2023 21:29:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309306 The Appeal challenging the Income Tax Appellate Tribunal's order dismissing the revenue's Appeal was dismissed by the Bombay High Court. The Court found that the Tribunal's reliance on its own order in a different case was misplaced and that the Assessing Officer's conclusion on the applicability of Section 28(iv) of the Income Tax Act, 1961 should not have been disregarded. The Court upheld the Tribunal's decision that Section 28(iv) did not apply in the case involving the disputed transaction and Memorandum of Understanding with M/s Highland Realities Pvt Ltd. The Appeal was dismissed without costs. Case-Laws Income Tax Wed, 18 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309306