https://www.taxtmi.com/caselaws?id=419569 The Appellate Tribunal allowed the appeal of the assessee, citing the Covid-19 pandemic as a valid reason for the delay in filing the appeal. The Tribunal ruled in favor of the assessee, determining that the Principal Commissioner did not meet the conditions for invoking section 263. Additionally, the reassessment based on accommodation entries was scrutinized, with the Tribunal upholding the decision not to make further additions in the second reassessment. The Tribunal concluded that the AO's actions were in line with legal principles, leading to the allowance of the appeal. en-us Fri, 18 Feb 2022 00:00:00 +0530 Fri, 09 Sep 2022 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419569 The Appellate Tribunal allowed the appeal of the assessee, citing the Covid-19 pandemic as a valid reason for the delay in filing the appeal. The Tribunal ruled in favor of the assessee, determining that the Principal Commissioner did not meet the conditions for invoking section 263. Additionally, the reassessment based on accommodation entries was scrutinized, with the Tribunal upholding the decision not to make further additions in the second reassessment. The Tribunal concluded that the AO's actions were in line with legal principles, leading to the allowance of the appeal. Case-Laws Income Tax Fri, 18 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419569