Income Tax Officer, Ward-30(5), Delhi vs. Sanjeev Aggarwal

Parties Involved

Facts Summary

The assessee filed his return of income for A.Y. 2015-16 declaring total income at Rs. 1,73,16,460/-. The AO reopened the assessment based on information that the assessee had sold his immovable property. The assessee filed a revised return declaring total income at Rs. 4,14,95,520/-. The AO made an addition of Rs. 4,92,39,191/- on account of long-term capital gain. The assessee submitted additional evidence before the CIT(A), which was considered unjustified by the AO but allowed by the CIT(A).…

Legal Issues

• 1. Addition of Rs. 4,92,39,191/- on account of long-term capital gain

Judgment Outcome

Decided in favour of Assessee.

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