No notice was served before making adjustment to returned income: ITAT remanded the matter to AO

Divya Dugar Vs ITO (ITAT Kolkata) Assessment was completed u/s 143 (1) by making additions of Rs. 2,52,31,516/- and Rs. 14,65,957/- on account of income credited to profit and loss account under “Capital Gains” and “other sources” respectively, is more than whatever amount was shown in the schedule for Capital Gains in the return. CIT (A) deleted addition of Rs. 14,65,957/- but confirmed income of Rs. 2,52,31,516/-. It was argued on behalf of the assessee that the action of AO amounts to a double addition as the claiming of Capital Gains was accurately tendered in the Return of...