https://www.taxtmi.com/caselaws?id=310325 The ITAT Pune upheld the Principal Commissioner of Income-Tax's decision to invoke jurisdiction under Sec. 263 of the Act for the assessment year 2014-15. The Tribunal found the assessment order erroneous and prejudicial to the Revenue's interest due to inadequate analysis by the Assessing Officer regarding capital gains from the sale of commercial plots. The Tribunal dismissed the assessee's appeal, supporting the Principal Commissioner's findings of discrepancies in the cost of acquisition and the claimed capital loss, emphasizing the necessity for thorough examination in tax matters. en-us Thu, 17 Jun 2021 00:00:00 +0530 Wed, 18 Oct 2023 20:45:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310325 The ITAT Pune upheld the Principal Commissioner of Income-Tax's decision to invoke jurisdiction under Sec. 263 of the Act for the assessment year 2014-15. The Tribunal found the assessment order erroneous and prejudicial to the Revenue's interest due to inadequate analysis by the Assessing Officer regarding capital gains from the sale of commercial plots. The Tribunal dismissed the assessee's appeal, supporting the Principal Commissioner's findings of discrepancies in the cost of acquisition and the claimed capital loss, emphasizing the necessity for thorough examination in tax matters. Case-Laws Income Tax Thu, 17 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310325