https://www.taxtmi.com/caselaws?id=119217 The Tribunal condoned the delay in filing the cross objection by the assessee, considering it reasonable due to earlier counsel's advice. Regarding the applicability of Section 94(7), the Tribunal upheld the CIT(A)'s decision, emphasizing that all conditions of the provision must be met cumulatively. Since the assessee sold securities after the specified period, clause (b) was not fulfilled, leading to the dismissal of the revenue's appeal. The Tribunal allowed the cross objection for further assessment by the Assessing Officer to ensure fairness to both parties. en-us Fri, 12 Oct 2007 00:00:00 +0530 Mon, 09 Jul 2012 17:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119217 The Tribunal condoned the delay in filing the cross objection by the assessee, considering it reasonable due to earlier counsel's advice. Regarding the applicability of Section 94(7), the Tribunal upheld the CIT(A)'s decision, emphasizing that all conditions of the provision must be met cumulatively. Since the assessee sold securities after the specified period, clause (b) was not fulfilled, leading to the dismissal of the revenue's appeal. The Tribunal allowed the cross objection for further assessment by the Assessing Officer to ensure fairness to both parties. Case-Laws Income Tax Fri, 12 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119217