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2011 (12) TMI 125 - HC - Income TaxDeemed dividend – assessee received amount from its sister concern in oct 1997 claiming it to be business advance – advance to another sister concern transferred to assessee by book entry - assessee discontinued business from Oct 1997 – Held that:- On request of assessee the matter is remanded back to the CIT(A) with a direction to him to re-consider the matter afresh in the light of the Supreme Court decision in case of Commissioner of Income Tax Vs. Mukundray K. Shah (2007 -TMI - 6556 - SUPREME Court) and without in any way being influenced either by any observation made by him in the earlier order of revision or any observation made by court in this judgment and to pass appropriate orders in accordance with law.
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