Mother–Son Gifted Land Misinterpreted as Sale: ITAT Delhi Remands Case to CIT(A)

Syed Faraz Shere Vs ITO (ITAT Delhi)

Gift by Mother, Not Transfer by Son: ITAT Gives Assessee Final Chance to Prove Reality

Assessee challenged reassessment order passed u/s 147 r.w.s 144, wherein AO treated transfer of agricultural land valued at ₹86,07,707 as assessee’s taxable capital-gain transaction. According to AO & CIT(A), assessee failed to furnish sale deed / supporting evidence &  therefore addition of ₹60,25,395 was sustained.

Before ITAT, assessee explained that the land wa

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