Shri Rajesh Chandwani vs. Income-tax Officer

Parties Involved

Facts Summary

The assessee, Shri Rajesh Chandwani, filed an original return of income for the Assessment Year 2012-13 on 23.12.2013, declaring a total income of Rs. 2,22,750/-. Based on an Annual Information Report (AIR) received by the Assessing Officer (AO) regarding the sale of an immovable property by the assessee amounting to Rs. 51,11,600/- during the financial year 2011-12, the AO re-opened the assessee's case under section 147 and issued notices under section 148. The assessee did not comply with the notices, leading the AO to complete an ex-parte assessment under section 144, making an addition of Rs. 51,11,600/- on account of undisclosed capital gain. The assessee carried the matter in first-appeal but could not participate in the hearings, leading to an ex-parte order by the Commissioner of Income-Tax (Appeals) upholding the addition made by the AO. The assessee then filed an appeal before the Income Tax Appellate Tribunal (ITAT).…

Legal Issues

• 1. Whether the addition made by the AO on account of undisclosed capital gain is justified.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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