No condonation for wrong legal advice ground taken by commercial entity: ITAT

Kancherla Medical Services Private Limited Vs DCIT (ITAT Hyderabad)

Introduction: In a recent case, the Income Tax Appellate Tribunal (ITAT) Hyderabad addressed the issue of condoning a delay in appealing an order issued under Section 263 of the Income Tax Act, 1961. The case involved Kancherla Medical Services Private Limited, a commercial entity operating in the medical services sector. The Principal Commissioner of Income Tax (PCIT) in Hyderabad had passed an order on March 31, 2022, deeming the assessme

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