Shri Varun Manjunatha Vs. The Income Tax Officer

Parties Involved

Facts Summary

The assessee, Shri Varun Manjunatha, along with his mother sold an ancestral property during the Assessment Year 2015-16, in which the assessee had a 50% share. The assessee did not file his Return of Income (ROI) and the Assessing Officer (AO) passed an order under section 148A(b) of the Income Tax Act. The assessee filed his ROI on 13/04/2022, declaring income from long term capital gains. The AO passed an assessment order on 16/03/2023 treating the entire consideration received as income. The Commissioner of Income-tax (Appeals) dismissed the appeal on the ground that the assessee had not appeared for the notices issued. The assessee appealed to the Income Tax Appellate Tribunal (ITAT) challenging the order of the Commissioner of Income-tax (Appeals).…

Legal Issues

• 1. Whether the order of the Commissioner of Income-tax (Appeals) is opposed to law, weight of evidence, natural justice, probabilities, facts and circumstances of the appellant's case?
• 2. Whether the assessee is liable to be assessed at a sum of Rs. 56,03,818/- as assessed by the Assessing Officer?

Judgment Outcome

Decided in favour of Assessee.

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