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2005 (5) TMI 43 - HC - Income TaxUndisclosed income - deemed dividend - block assessment proceedings initiated under Chapter XIV-B - dispute relates to a few entries for the previous year 1999-2000 in relation to the assessee's investment in 9 per cent. RBI Relief Bonds - The Assessing Officer had treated these investments as deemed dividend in the hands of the assessee within the meaning of section 2(22)(e) – Held that Tribunal misdirected itself in law and adopted a wholly erroneous approach in reversing the appellate order passed by the Commissioner of Income-tax (Appeals), in relation to the alleged deemed dividend of Rs. 5,99,00,000 assessed as the appellant-assessee's alleged undisclosed income with reference to the provisions of section 2(22)(e) – Further, Tribunal misdirected itself in law in not upholding the order of CIT (Appeals) and remanding the issue of interest u/s 158BFA(1) to the AO
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