https://www.taxtmi.com/caselaws?id=56332 The case involved the interpretation of section 80P(2)(a)(vi) of the Income Tax Act, 1961, regarding a cooperative society's eligibility for income exemption based on its by-laws. The assessment was set aside for reevaluation due to the society's by-laws conflicting with the provision. The Commissioner's power under section 263 to revise the assessment order was discussed, emphasizing the need for the assessee to be heard. The CIT(A) was found to have the authority to assess appeals independently. Despite a significant delay, condonation was granted for filing an appeal. The appeal against the order under section 263 was dismissed without expressing an opinion on the merits, and the cross-objection by the Revenue was deemed meritless. en-us Wed, 01 Aug 1990 00:00:00 +0530 Fri, 03 Dec 2010 11:13:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56332 The case involved the interpretation of section 80P(2)(a)(vi) of the Income Tax Act, 1961, regarding a cooperative society's eligibility for income exemption based on its by-laws. The assessment was set aside for reevaluation due to the society's by-laws conflicting with the provision. The Commissioner's power under section 263 to revise the assessment order was discussed, emphasizing the need for the assessee to be heard. The CIT(A) was found to have the authority to assess appeals independently. Despite a significant delay, condonation was granted for filing an appeal. The appeal against the order under section 263 was dismissed without expressing an opinion on the merits, and the cross-objection by the Revenue was deemed meritless. Case-Laws Income Tax Wed, 01 Aug 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56332