ITA No 132 of 2024 Chundi Sukumar Reddy

Parties Involved

Facts Summary

The assessee, a non-resident individual, did not file an income return for the Assessment Year 2015-16. The Income Tax Officer issued a notice under section 148 on 28/03/2021, leading to the reopening of the assessment. The Assessing Officer passed an order under section 144C(1) on 01/03/2023, adding Rs.34,21,060/- towards Long-Term Capital Gain. The assessee filed an objection against the draft assessment order before the DRP-1 Bengaluru, which was rejected. The assessee then appealed to the Tribunal against the final assessment order.…

Legal Issues

• 1. Whether the draft assessment order passed by the Assessing Officer is beyond limitation?

Judgment Outcome

Decided in favour of Assessee.

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