https://www.taxtmi.com/caselaws?id=787226 Tribunal condoned a 100 day delay after accepting sufficient cause based on enforcement proceedings and family health, admitting the appeal. On the substantive point, the Tribunal set aside the addition for undervaluation of immovable property treated under the income tax valuation provision and remanded the matter to the Assessing Officer for de novo adjudication because the assessee lacked effective opportunity and documentary evidence before earlier authorities; AO is directed to re examine accounting treatment, applicability of valuation guidance, and afford a reasonable hearing. The Tribunal did not decide the merits of asset characterisation. en-us Wed, 25 Feb 2026 00:00:00 +0530 Sat, 28 Feb 2026 08:41:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787226 Tribunal condoned a 100 day delay after accepting sufficient cause based on enforcement proceedings and family health, admitting the appeal. On the substantive point, the Tribunal set aside the addition for undervaluation of immovable property treated under the income tax valuation provision and remanded the matter to the Assessing Officer for de novo adjudication because the assessee lacked effective opportunity and documentary evidence before earlier authorities; AO is directed to re examine accounting treatment, applicability of valuation guidance, and afford a reasonable hearing. The Tribunal did not decide the merits of asset characterisation. Case-Laws Income Tax Wed, 25 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787226