https://www.taxtmi.com/caselaws?id=272544 The appeal was filed against the order of CIT-22, Mumbai, under section 263 of the Income Tax Act concerning valuation discrepancies in the sale of a plot. The CIT set aside the original assessment order, directing a fresh assessment due to deficiencies in the assessment order and lack of independent application of mind. The delay in filing the appeal was condoned, emphasizing substantial justice over technicalities. The Tribunal annulled subsequent proceedings, highlighting the procedural flaws in the initiation of revision proceedings by the CIT based on the AO's proposal. en-us Fri, 07 Nov 2014 00:00:00 +0530 Mon, 07 May 2018 19:50:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272544 The appeal was filed against the order of CIT-22, Mumbai, under section 263 of the Income Tax Act concerning valuation discrepancies in the sale of a plot. The CIT set aside the original assessment order, directing a fresh assessment due to deficiencies in the assessment order and lack of independent application of mind. The delay in filing the appeal was condoned, emphasizing substantial justice over technicalities. The Tribunal annulled subsequent proceedings, highlighting the procedural flaws in the initiation of revision proceedings by the CIT based on the AO's proposal. Case-Laws Income Tax Fri, 07 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272544