https://www.taxtmi.com/caselaws?id=406906 The tribunal admitted the appeal despite a 223-day delay in filing, condoning the delay. The legitimacy of suspicious sale transactions in shares was questioned, with the Principal Commissioner invoking Section 263 for reassessment. The assessing officer's inquiry into the transactions was deemed adequate, supported by documentary evidence. The tribunal concluded that the assessing officer's decision was not erroneous, overturning the Principal Commissioner's revision under Section 263. The appeal of the assessee was allowed. en-us Wed, 21 Apr 2021 00:00:00 +0530 Mon, 26 Apr 2021 10:26:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406906 The tribunal admitted the appeal despite a 223-day delay in filing, condoning the delay. The legitimacy of suspicious sale transactions in shares was questioned, with the Principal Commissioner invoking Section 263 for reassessment. The assessing officer's inquiry into the transactions was deemed adequate, supported by documentary evidence. The tribunal concluded that the assessing officer's decision was not erroneous, overturning the Principal Commissioner's revision under Section 263. The appeal of the assessee was allowed. Case-Laws Income Tax Wed, 21 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406906