Ashok Nagar Co-Op. Housing Society Ltd. vs. ITO 25(2)(1) & CIT (A)

Parties Involved

Facts Summary

The assessee, Ashok Nagar Co-Op. Housing Society Ltd., filed an appeal against the order passed by the Commissioner of Income Tax (CIT) dated 28.04.2023 for the assessment year 2004-05. The appeal was filed after a delay of 935 days. The assessee argued that the delay was due to lack of knowledge about the order and lack of proper notification. The revenue, represented by Shri Surendra Mohan, opposed the condonation of delay. The Tribunal dismissed the appeal due to the inordinate delay and lack of sufficient cause for the delay.…

Legal Issues

• 1. Delay in filing the appeal
• 2. Addition of Rs. 78,24,042/- as long Term Capital gains on Sale of Plot

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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