https://www.taxtmi.com/caselaws?id=423311 The court upheld the decision to condone the delay in filing the appeal due to a relaxation from limitation provided by the Apex Court. Discrepancies in sale deeds led to the disallowance of indexed cost and addition of a differential amount for long-term capital gain. The assessment order under section 263 was set aside for deficiencies, requiring the Assessing Officer to conduct necessary inquiries. The judgment stressed the importance of proper application of law and thorough examination during assessment, particularly regarding the eligibility under section 54F for exemption. Ultimately, the order passed by the Principal Commissioner of Income Tax under section 263 was upheld, dismissing the assessee's appeal. en-us Thu, 02 Jun 2022 00:00:00 +0530 Fri, 03 Jun 2022 13:01:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423311 The court upheld the decision to condone the delay in filing the appeal due to a relaxation from limitation provided by the Apex Court. Discrepancies in sale deeds led to the disallowance of indexed cost and addition of a differential amount for long-term capital gain. The assessment order under section 263 was set aside for deficiencies, requiring the Assessing Officer to conduct necessary inquiries. The judgment stressed the importance of proper application of law and thorough examination during assessment, particularly regarding the eligibility under section 54F for exemption. Ultimately, the order passed by the Principal Commissioner of Income Tax under section 263 was upheld, dismissing the assessee's appeal. Case-Laws Income Tax Thu, 02 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423311