https://www.taxtmi.com/caselaws?id=68526 The Tribunal allowed the appeal, setting aside the CIT's order under Section 263 of the IT Act. It concluded that the AO's assessment order was correct and not prejudicial to the Revenue's interests. The delay in filing the appeal was condoned, and the case was fixed to be decided on its merits. The compensation received by the assessee for leaving rights on agricultural land was found to be correctly assessed, with the AO's thorough inquiry supporting the non-taxable nature of the compensation. en-us Mon, 22 Mar 2004 00:00:00 +0530 Thu, 31 Mar 2011 09:53:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68526 The Tribunal allowed the appeal, setting aside the CIT's order under Section 263 of the IT Act. It concluded that the AO's assessment order was correct and not prejudicial to the Revenue's interests. The delay in filing the appeal was condoned, and the case was fixed to be decided on its merits. The compensation received by the assessee for leaving rights on agricultural land was found to be correctly assessed, with the AO's thorough inquiry supporting the non-taxable nature of the compensation. Case-Laws Income Tax Mon, 22 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68526