https://www.taxtmi.com/caselaws?id=380024 The High Court dismissed the appeal regarding the validity of the order under Section 263 of the Income Tax Act, emphasizing that the Commissioner's attempt to re-appreciate facts was impermissible. Additionally, the Court upheld the Tribunal's decision on the taxation of short term capital gains on the sale of immovable property, stating that the Commissioner's actions did not raise a substantial legal question. The Court also found that the invocation of Section 263 was impermissible due to the Assessing Officer's prior inquiry and application of mind, leading to the dismissal of the appeal on all grounds. en-us Fri, 15 Mar 2019 00:00:00 +0530 Fri, 10 May 2019 18:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380024 The High Court dismissed the appeal regarding the validity of the order under Section 263 of the Income Tax Act, emphasizing that the Commissioner's attempt to re-appreciate facts was impermissible. Additionally, the Court upheld the Tribunal's decision on the taxation of short term capital gains on the sale of immovable property, stating that the Commissioner's actions did not raise a substantial legal question. The Court also found that the invocation of Section 263 was impermissible due to the Assessing Officer's prior inquiry and application of mind, leading to the dismissal of the appeal on all grounds. Case-Laws Income Tax Fri, 15 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380024