https://www.taxtmi.com/caselaws?id=278942 The Tribunal canceled the order passed by the Principal Commissioner of Income Tax (Pr.CIT) under section 263, finding it lacked tangible material and was based on a mere difference of opinion. The Pr.CIT's directive to recompute capital gains using specific rates for cost of acquisition and construction was deemed unjustified. The Tribunal upheld the assessment completed by the Assessing Officer after due verification, ruling in favor of the assessee and allowing their appeal. en-us Fri, 17 Aug 2018 00:00:00 +0530 Mon, 25 Feb 2019 23:53:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278942 The Tribunal canceled the order passed by the Principal Commissioner of Income Tax (Pr.CIT) under section 263, finding it lacked tangible material and was based on a mere difference of opinion. The Pr.CIT's directive to recompute capital gains using specific rates for cost of acquisition and construction was deemed unjustified. The Tribunal upheld the assessment completed by the Assessing Officer after due verification, ruling in favor of the assessee and allowing their appeal. Case-Laws Income Tax Fri, 17 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278942