https://www.taxtmi.com/caselaws?id=397362 The tribunal held that the assessment order under section 143(3) was not erroneous. Section 55A did not allow the AO to substitute the value claimed by the assessee. The amendment to section 55A was prospective and not applicable to the assessment year in question. The order under section 263 was quashed, and the appeal by the assessee was allowed. The tribunal justified the delay in pronouncing the order due to the Covid-19 lockdown. en-us Tue, 02 Jun 2020 00:00:00 +0530 Mon, 17 Aug 2020 10:05:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397362 The tribunal held that the assessment order under section 143(3) was not erroneous. Section 55A did not allow the AO to substitute the value claimed by the assessee. The amendment to section 55A was prospective and not applicable to the assessment year in question. The order under section 263 was quashed, and the appeal by the assessee was allowed. The tribunal justified the delay in pronouncing the order due to the Covid-19 lockdown. Case-Laws Income Tax Tue, 02 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397362