https://www.taxtmi.com/caselaws?id=330221 The tribunal allowed the appeal by the assessee, condoning the delay in filing the appeal due to reasons beyond the assessee's control. It held that substantial justice should prevail over technical considerations. Regarding the invocation of revisionary jurisdiction under Section 263, the tribunal quashed the CIT's decision, finding that the original assessment order was not erroneous or prejudicial to revenue interests. The tribunal emphasized that the CIT cannot initiate proceedings under Section 263 based on incorrect assumptions or to substitute one view with another. en-us Fri, 08 Jul 2016 00:00:00 +0530 Wed, 20 Jul 2016 13:29:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330221 The tribunal allowed the appeal by the assessee, condoning the delay in filing the appeal due to reasons beyond the assessee's control. It held that substantial justice should prevail over technical considerations. Regarding the invocation of revisionary jurisdiction under Section 263, the tribunal quashed the CIT's decision, finding that the original assessment order was not erroneous or prejudicial to revenue interests. The tribunal emphasized that the CIT cannot initiate proceedings under Section 263 based on incorrect assumptions or to substitute one view with another. Case-Laws Income Tax Fri, 08 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330221