Property Plus Realtor vs PCIT(Central) Delhi-2
Case No: ITA Nos. 3406 & 3407/Del/2025
Court: Income Tax Appellate Tribunal, Delhi 'E' Bench
Date: 1/21/2026
Parties Involved
appellantProperty Plus Realtor
respondentPCIT(Central) Delhi-2
Facts Summary
The assessee, Property Plus Realtor, a partnership firm engaged in real estate dealings, filed its return of income for Assessment Year 2020-21 declaring income at INR 12,44,66,880/-. The case was selected for scrutiny and a search was conducted under section 132 of the Income Tax Act. The Assessing Officer (AO) observed that the assessee provided services to various real estate companies, including Gaur Group, and received commission. The AO applied a net profit rate of 40% to estimate the asse…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the order under section 263 directing modification of the assessment order by enhancing the income of the assessee is bad in law.
- 2. Whether the AO passed the assessment order without making necessary enquiries or verifications.
3 more legal issues analysed in this judgement.
Precedents Relied Upon
12 precedents cited in this judgement.