Jagannath Sambhaji Satav vs. Income Tax Officer

Parties Involved

Facts Summary

The assessee, Jagannath Sambhaji Satav, is an individual deriving income from 'income from other sources'. The assessee did not file regular income tax returns as per the provisions of section 139 of the Income Tax Act, 1961. During the assessment proceedings for the Assessment Year 2014-15, it was noted that the assessee had surrendered his tenancy rights of land for a total consideration of Rs.5,25,00,000/- and received Rs.2,59,24,250/- towards his share. Statutory notices under sections 148 and 142(1)/143(2) were issued, to which the assessee did not respond. The Assessing Officer completed the assessment under section 143(3) r.w.s. 147 of the Act, adding Rs.2,59,24,250/- as long-term capital gain. The assessee appealed to the Commissioner of Income Tax (Appeals), who dismissed the appeal, finding the assessee non-cooperative. The assessee further appealed to the Income Tax Appellate Tribunal.…

Legal Issues

• 1. Whether the order passed by the Commissioner of Income Tax (Appeals) dismissing the appeal is illegal and against the principles of natural justice?
• 2. Whether the addition of Rs.2,59,24,250/- as long-term capital gain is justified?

Judgment Outcome

Decided in favour of Assessee.

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