https://www.taxtmi.com/caselaws?id=759583 The HC partially allowed the writ petition, quashing the DRP's direction related to Section 56(2)(viib) of the Income Tax Act, 1961. The matter was remitted back to the authority for reevaluation in accordance with Tribunal judgments. The respondent acknowledged the Tribunal's binding decisions, negating the need to address the provision's validity. Other case aspects remain open for further deliberation. en-us Mon, 29 Jul 2024 00:00:00 +0530 Fri, 04 Oct 2024 01:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759583 The HC partially allowed the writ petition, quashing the DRP's direction related to Section 56(2)(viib) of the Income Tax Act, 1961. The matter was remitted back to the authority for reevaluation in accordance with Tribunal judgments. The respondent acknowledged the Tribunal's binding decisions, negating the need to address the provision's validity. Other case aspects remain open for further deliberation. Case-Laws Income Tax Mon, 29 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759583