https://www.taxtmi.com/caselaws?id=439559 The application for condonation of a 63-day delay in re-filing the appeal was granted based on the reasons provided. The appeal, concerning the Assessment Year 2014-15, challenged the ITAT order regarding land sale below stamp duty value. The PCIT deemed the assessment order erroneous and prejudicial to revenue. However, the Tribunal ruled in favor of the respondent, finding the PCIT failed to consider essential facts and correctly applied Section 263 of the Act. The twin conditions of error and prejudice were not met. The Tribunal's decision was upheld, no substantial question of law was identified, and the appeal was disposed of. en-us Fri, 26 May 2023 00:00:00 +0530 Wed, 23 Oct 2024 15:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439559 The application for condonation of a 63-day delay in re-filing the appeal was granted based on the reasons provided. The appeal, concerning the Assessment Year 2014-15, challenged the ITAT order regarding land sale below stamp duty value. The PCIT deemed the assessment order erroneous and prejudicial to revenue. However, the Tribunal ruled in favor of the respondent, finding the PCIT failed to consider essential facts and correctly applied Section 263 of the Act. The twin conditions of error and prejudice were not met. The Tribunal's decision was upheld, no substantial question of law was identified, and the appeal was disposed of. Case-Laws Income Tax Fri, 26 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439559