https://www.taxtmi.com/caselaws?id=773269 Section 56(2)(viib) was examined in light of the assessee's claim that it was a public limited company in which the public was substantially interested. Because that contention was not specifically dealt with in the assessment order and was not expressly rejected by the first appellate authority, the matter required reconsideration on the relevant facts. The assessee was to be given an effective opportunity to substantiate its claim, and the issue was restored to the Assessing Officer for fresh adjudication rather than finally sustaining the addition. en-us Fri, 16 May 2025 00:00:00 +0530 Fri, 20 Jun 2025 08:34:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773269 Section 56(2)(viib) was examined in light of the assessee's claim that it was a public limited company in which the public was substantially interested. Because that contention was not specifically dealt with in the assessment order and was not expressly rejected by the first appellate authority, the matter required reconsideration on the relevant facts. The assessee was to be given an effective opportunity to substantiate its claim, and the issue was restored to the Assessing Officer for fresh adjudication rather than finally sustaining the addition. Case-Laws Income Tax Fri, 16 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773269