https://www.taxtmi.com/caselaws?id=420359 The Tribunal admitted the appeal for adjudication, condoning a 47-day delay in filing due to the appellant's medical condition. The Commissioner's revisionary jurisdiction under Section 263 was upheld, setting aside the assessment order for failure to address a loan transaction, despite the appellant's challenge. Doubts about the genuineness of the loan transaction led to the revision, with the Tribunal finding the assessment prejudicial to revenue due to the Assessing Officer's oversight. The appeal was dismissed, affirming the revision under Section 263. en-us Fri, 18 Mar 2022 00:00:00 +0530 Fri, 01 Apr 2022 08:33:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420359 The Tribunal admitted the appeal for adjudication, condoning a 47-day delay in filing due to the appellant's medical condition. The Commissioner's revisionary jurisdiction under Section 263 was upheld, setting aside the assessment order for failure to address a loan transaction, despite the appellant's challenge. Doubts about the genuineness of the loan transaction led to the revision, with the Tribunal finding the assessment prejudicial to revenue due to the Assessing Officer's oversight. The appeal was dismissed, affirming the revision under Section 263. Case-Laws Income Tax Fri, 18 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420359