https://www.taxtmi.com/caselaws?id=437088 The High Court of Calcutta allowed the appeal filed by the revenue under Section 260A of the Income Tax Act, condoning the delay of 82 days in filing the appeal. The Court found sufficient cause for the delay and granted the application. The Court analyzed the interpretation of provisions related to agricultural land under the Income Tax Act, focusing on errors in the exercise of power under Section 263 by the Principal Commissioner of Income Tax. It concluded that the PCIT had erroneously invoked its power under Section 263 due to insufficient satisfaction based on correct and verifiable facts regarding the claim of deduction under Section 54B. The appeal was ultimately dismissed, with no substantial questions of law identified. en-us Tue, 31 Jan 2023 00:00:00 +0530 Thu, 27 Apr 2023 09:00:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437088 The High Court of Calcutta allowed the appeal filed by the revenue under Section 260A of the Income Tax Act, condoning the delay of 82 days in filing the appeal. The Court found sufficient cause for the delay and granted the application. The Court analyzed the interpretation of provisions related to agricultural land under the Income Tax Act, focusing on errors in the exercise of power under Section 263 by the Principal Commissioner of Income Tax. It concluded that the PCIT had erroneously invoked its power under Section 263 due to insufficient satisfaction based on correct and verifiable facts regarding the claim of deduction under Section 54B. The appeal was ultimately dismissed, with no substantial questions of law identified. Case-Laws Income Tax Tue, 31 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437088