Balkrishna Pandurang Patil vs. Ward No. 10 (3) (1)

Parties Involved

Facts Summary

The case involves an appeal by Balkrishna Pandurang Patil against the order passed by the National Faceless Appeal Centre (NFAC)/Ld. Commissioner of Income Tax (Appeals) under Section 250 of the Income Tax Act, 1961 for the Assessment Year 2017-18. The Assessing Officer (AO) received information indicating that the Assessee had sold a property for Rs.32,00,000/-, whereas the stamp duty value was Rs.1,75,71,000/-. The AO observed that the difference of Rs.1,43,71,000/- was taxable under Section 50(c) of the Act. The AO reopened the case under Section 147 of the Act and issued a notice under Section 148, which was later deemed to have been issued under Section 149(A) of the Act. The re-assessment proceedings resulted in an addition of Rs.45,72,950/- being one-third of the differential amount, as the Assessee had a one-third share in the property. The Assessee challenged this addition before the Ld. Commissioner, who dismissed the appeal ex-parte for non-prosecution.…

Legal Issues

• 1. Whether the appeal can be dismissed for non-prosecution by the Ld. Commissioner.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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