https://www.taxtmi.com/caselaws?id=792956 Limitation for filing the appeal fell within the Supreme Court's Covid-19 exclusion period, so the delay was condoned and the appeal admitted. On revision, the assessment was treated as erroneous and prejudicial because the registered sale deed recorded consideration and possession, the cancellation deed was used to avoid capital gains liability, and the assessing authority accepted the explanation without adequate independent verification of revenue records, bank transactions, or the legal validity of the cancellation deed. The revision under section 263 was therefore sustained, applying Explanation 2(a) to section 263(1) on inadequate enquiry. en-us Fri, 15 May 2026 00:00:00 +0530 Sat, 06 Jun 2026 08:42:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792956 Limitation for filing the appeal fell within the Supreme Court's Covid-19 exclusion period, so the delay was condoned and the appeal admitted. On revision, the assessment was treated as erroneous and prejudicial because the registered sale deed recorded consideration and possession, the cancellation deed was used to avoid capital gains liability, and the assessing authority accepted the explanation without adequate independent verification of revenue records, bank transactions, or the legal validity of the cancellation deed. The revision under section 263 was therefore sustained, applying Explanation 2(a) to section 263(1) on inadequate enquiry. Case-Laws Income Tax Fri, 15 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792956