2023 (4) TMI 1114

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.... Bhattacharjee, Adv. For the Respondent : Mr. Dibanath Dey, Adv. Ms. Pallavi Pain, Adv. ORDER GA/1/2022 The Court : - Heard learned Counsel for either side. There is a delay of 82 days in filing the appeal. Upon perusal of the affidavit filed in support of the condone delay application we are satisfied that sufficient cause has been shown by the appellant/revenue for not preferri....

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....ing the required implementation of the provision of Section 54B relating to transfer/sale of claimed Agricultural Land by the assessee? C. Whether the Learned Tribunal has committed substantial error in law in not appreciating that the PCIT has correcting by invoke the power under Section 263 of the Income Tax Act as the assessment order was erroneous in so far as it was prejudicial to the inte....

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....ion to implement the order when it is an undisputed fact that the assessee has not made any claim under Section 54B of the Act. Furthermore, the learned Tribunal took note of the term "record" occurring in explanation (1)(b) of the Section 263 of the Act and held that the "record" shall include all documentary evidences which were submitted before the assessing officer and also those submitted bef....