https://www.taxtmi.com/caselaws?id=429090 The Tribunal overturned the Revision Order under section 263 of the Income-Tax Act, directing the reassessment to consider Long Term Capital Gain instead of Short Term Capital Gain. The Tribunal found the original assessment valid, emphasizing the AO's diligence and proper verification. The appeal outcome favored the assessee, highlighting the importance of thorough examination in assessment proceedings to ensure accurate tax implications. en-us Wed, 21 Sep 2022 00:00:00 +0530 Tue, 18 Oct 2022 08:51:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429090 The Tribunal overturned the Revision Order under section 263 of the Income-Tax Act, directing the reassessment to consider Long Term Capital Gain instead of Short Term Capital Gain. The Tribunal found the original assessment valid, emphasizing the AO's diligence and proper verification. The appeal outcome favored the assessee, highlighting the importance of thorough examination in assessment proceedings to ensure accurate tax implications. Case-Laws Income Tax Wed, 21 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429090