https://www.taxtmi.com/caselaws?id=777946 ITAT KOLKATA - AT held the revisional proceedings under s.263 were without merit and quashed them, allowing the assessee's appeal. The tribunal found the interest/refund credited post-amalgamation pertained to the Netherlands entity and had been finally assessed there, so it could not be taxed again in the hands of the assessee. Book entries and receipt of funds in the assessee's bank account did not establish taxable status. Consequently the addition was deleted and the assessment order was not found erroneous or prejudicial to revenue. en-us Tue, 26 Aug 2025 00:00:00 +0530 Mon, 08 Sep 2025 13:37:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777946 ITAT KOLKATA - AT held the revisional proceedings under s.263 were without merit and quashed them, allowing the assessee's appeal. The tribunal found the interest/refund credited post-amalgamation pertained to the Netherlands entity and had been finally assessed there, so it could not be taxed again in the hands of the assessee. Book entries and receipt of funds in the assessee's bank account did not establish taxable status. Consequently the addition was deleted and the assessment order was not found erroneous or prejudicial to revenue. Case-Laws Income Tax Tue, 26 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777946