Gopalchandra Bagui Vs. Assessment Unit

Parties Involved

Facts Summary

The Department found that the assessee, Gopalchandra Bagui, had sold an immovable property for a consideration of ₹50,14,000/-. The profit from this sale was liable to be taxed under the Income Tax Act for the assessment year 2015-16. Since the assessee was a non-filer, his assessment was reopened under section 147 of the Act after issuing a notice under section 148. The Assessing Officer noted that the sale proceeds had escaped assessment and, as the assessee did not file an income tax return in response to the notice, the AO regarded the sale proceeds as the total income of the assessee and assessed it under sections 147, 144, and 144B of the Act. Aggrieved by this assessment order, the assessee filed an appeal before the Commissioner of Income Tax (Appeals) who dismissed the appeal on the ground of delay. Aggrieved by this order, the assessee filed an appeal before the Income Tax Appellate Tribunal.…

Legal Issues

• 1. Whether the Learned CIT (Appeal) was justified in dismissing the appeal on the ground of limitation.
• 2. Whether the addition on the basis of the alleged sale of immovable property was justified.
• 3. Whether the assessee was given an opportunity to confront the allegation of the sale of immovable property.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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