https://www.taxtmi.com/caselaws?id=182888 The ITAT set aside the CIT's order u/s 263 of the Income Tax Act, 1961, regarding the assessment of long term capital gains by an assessee company. The ITAT found that the Assessing Officer had thoroughly examined the relevant aspects, including the joint venture agreement and accounting treatment, and had applied due diligence. It concluded that the CIT's intervention was a change of opinion and not legally sustainable. Consequently, the appeal was dismissed, affirming the ITAT's decision. en-us Fri, 17 Jun 2011 00:00:00 +0530 Sat, 21 May 2016 17:55:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182888 The ITAT set aside the CIT's order u/s 263 of the Income Tax Act, 1961, regarding the assessment of long term capital gains by an assessee company. The ITAT found that the Assessing Officer had thoroughly examined the relevant aspects, including the joint venture agreement and accounting treatment, and had applied due diligence. It concluded that the CIT's intervention was a change of opinion and not legally sustainable. Consequently, the appeal was dismissed, affirming the ITAT's decision. Case-Laws Income Tax Fri, 17 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182888