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AO Mistake on ROI Leads to Section 54F Reassessment Remand
Case Law Details
- Case Name
- Gopal Kundu Roy Vs ITO (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-2015
- Courts
- All ITAT, ITAT Kolkata
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Gopal Kundu Roy Vs ITO (ITAT Kolkata)
When AO Treats ROI as ‘Not Filed’: Tribunal Sends 54F Dispute Back for Re-examination
The dispute arose when AO reopened the case u/s 147 on the premise that Assessee had not filed ROI, treating the sale consideration as Rs. 3,00,000 instead of Rs. 15,00,000, & adopted stamp value of Rs. 15,09,374 for computing LTCG. Assessee however produced before Tribunal the original ROI filed u/s 139(1) wherein the sale transaction was duly reported & exemption u/s 54F was claimed based on investment in construction of a house.
CIT(A) dism...
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