https://www.taxtmi.com/caselaws?id=69402 The Tribunal held that the Assessing Officer's decision to grant a change in the previous year for the assessee was legitimate tax planning and did not mislead the Revenue. The Tribunal found no suppression of capital gains by the assessee as the gains were appropriately assessed later. Additionally, the sale and lease-back transactions were deemed legitimate tax planning. The Tribunal concluded that the Revenue was not prejudiced by the change in the previous year, leading to the cancellation of the CIT's order under section 263 and allowing the appeal. en-us Tue, 19 Feb 1991 00:00:00 +0530 Wed, 06 Apr 2011 15:46:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69402 The Tribunal held that the Assessing Officer's decision to grant a change in the previous year for the assessee was legitimate tax planning and did not mislead the Revenue. The Tribunal found no suppression of capital gains by the assessee as the gains were appropriately assessed later. Additionally, the sale and lease-back transactions were deemed legitimate tax planning. The Tribunal concluded that the Revenue was not prejudiced by the change in the previous year, leading to the cancellation of the CIT's order under section 263 and allowing the appeal. Case-Laws Income Tax Tue, 19 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69402