No Capital Gains Without Consideration Under Development Agreement: ITAT Hyderabad

Late Ragi Rajesham Vs ITO (ITAT Hyderabad) The appeal was filed against the order dated 06.01.2025 passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, for the assessment year 2013–2014. At the outset, there was a delay of 56 days in filing the appeal. The assessee, represented by legal heirs, sought condonation of delay citing circumstances such as the death of the original assessee due to cancer, serious illness within the family, internal disputes among legal heirs, and the advanced age and illiteracy of the widow. The Tribunal found that the delay was caus...