https://www.taxtmi.com/caselaws?id=398295 The Tribunal upheld the Pr. CIT's decision, dismissing the appeal. It was found that the assessment based on the original return of income was erroneous, justifying the Pr. CIT's jurisdiction under section 263. The issues concerning the validity of the revised return, claims for cost of improvement and exemption under section 54F, and the applicability of the amendment to section 139(5) were thoroughly examined, resulting in the dismissal of the appeal. en-us Wed, 09 Sep 2020 00:00:00 +0530 Fri, 11 Sep 2020 15:50:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398295 The Tribunal upheld the Pr. CIT's decision, dismissing the appeal. It was found that the assessment based on the original return of income was erroneous, justifying the Pr. CIT's jurisdiction under section 263. The issues concerning the validity of the revised return, claims for cost of improvement and exemption under section 54F, and the applicability of the amendment to section 139(5) were thoroughly examined, resulting in the dismissal of the appeal. Case-Laws Income Tax Wed, 09 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398295