Vasamsetty Gangadhara Rao vs. The Income Tax Officer

Parties Involved

Facts Summary

The assessee, Vasamsetty Gangadhara Rao, filed his return of income for the Assessment Year 2016-17 belatedly on 30/03/2018, declaring a total income of Rs. 3,06,370/-. The assessee had purchased an immovable property for Rs. 30,10,000/- and paid Rs. 2,25,850/- towards stamp duty during the FY 2015-16. The assessee could not provide documentary evidence for the source of the purchase consideration. The case was reopened under section 147 of the Income Tax Act, 1961, and a notice under section 148 was issued on 31/03/2021. The assessee did not respond to the notices and failed to furnish the requisite documentary evidence. The Assessing Officer completed the assessment proceedings and brought to tax Rs. 16,17,925/- being ½ of the total property value. The assessee appealed against the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, which was dismissed ex-parte.…

Legal Issues

• 1. Whether the order of the Commissioner of Income Tax (Appeals) is contrary to the facts and law applicable to the case.
• 2. Whether the Commissioner of Income Tax (Appeals) is justified in deciding the appeal ex-parte and dismissing the appeal.
• 3. Whether the Commissioner of Income Tax (Appeals) ought to have deleted the addition of Rs. 16,17,925/- made by the Assessing Officer towards alleged unexplained investment in the purchase of property.

Judgment Outcome

Decided in favour of Assessee.

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