Shashikant Krishna Shetty vs. Income Tax Officer

Parties Involved

Facts Summary

The assessee, Shashikant Krishna Shetty, did not file an income return for the assessment year 2013-14. Based on available information, the assessee had sold an immovable property for more than Rs. 30,00,000/- and purchased another property valued at Rs. 70,00,000/- during the financial year 2012-13. The case was reopened by issuing a notice under section 148 of the Act. However, the assessee did not comply during the assessment proceedings, leading to an ex-parte assessment under sections 144 and 147 of the Act. The total income was assessed at Rs. 12,45,85,000/- after adding unexplained investments and long-term capital gains from the sale of the property. The assessee filed an appeal against the ex-parte order, but the Commissioner of Income Tax (Appeal) dismissed the appeal due to a delay of 103 days in filing it. The assessee argued that the delay was due to his lack of education and inability to keep track of email communications regarding notices and assessment orders.…

Legal Issues

• 1. Whether the delay in filing the appeal should be condoned?
• 2. Whether the assessment order has errors?

Judgment Outcome

Decided in favour of Assessee.

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