https://www.taxtmi.com/caselaws?id=280660 The Tribunal condoned the delay in filing the appeal, considering the assessee's explanation of ignorance and difficulty in contacting the tax practitioner. The Assessing Officer accepted the income tax return but the CIT's order under section 263 was set aside for lack of justification, reinstating the Assessing Officer's decision. The Tribunal emphasized the genuine nature of the sale agreement and criticized the CIT's intervention, highlighting the need for thorough assessment in income tax cases and caution in invoking section 263 of the Income Tax Act. en-us Tue, 29 Sep 2015 00:00:00 +0530 Thu, 16 May 2019 06:26:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280660 The Tribunal condoned the delay in filing the appeal, considering the assessee's explanation of ignorance and difficulty in contacting the tax practitioner. The Assessing Officer accepted the income tax return but the CIT's order under section 263 was set aside for lack of justification, reinstating the Assessing Officer's decision. The Tribunal emphasized the genuine nature of the sale agreement and criticized the CIT's intervention, highlighting the need for thorough assessment in income tax cases and caution in invoking section 263 of the Income Tax Act. Case-Laws Income Tax Tue, 29 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280660