https://www.taxtmi.com/caselaws?id=369773 The tribunal found in favor of the appellant, allowing the appeal for regular hearing after condoning the delay in filing. It held that the order passed under section 263 of the Income Tax Act was not erroneous or prejudicial to revenue interests, as the Assessing Officer had adequately examined the issues during the original assessment. The tribunal emphasized that the Principal CIT's differing opinion was not sufficient grounds to set aside the original assessment order. Consequently, the Principal CIT's action under section 263 was deemed unjustified, and the proceedings were quashed, with the appeal of the assessee being allowed. en-us Wed, 19 Sep 2018 00:00:00 +0530 Fri, 02 Nov 2018 13:45:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369773 The tribunal found in favor of the appellant, allowing the appeal for regular hearing after condoning the delay in filing. It held that the order passed under section 263 of the Income Tax Act was not erroneous or prejudicial to revenue interests, as the Assessing Officer had adequately examined the issues during the original assessment. The tribunal emphasized that the Principal CIT's differing opinion was not sufficient grounds to set aside the original assessment order. Consequently, the Principal CIT's action under section 263 was deemed unjustified, and the proceedings were quashed, with the appeal of the assessee being allowed. Case-Laws Income Tax Wed, 19 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369773