Hotel Blue Moon Still Shines -Tribunal Annuls 147 Orders – Absence of 143(2) Fatal Despite ROI Filed

Gangaram Reddy Tekulapalli Vs ITO (ITAT Hyderabad) Hotel Blue Moon Still Shines -Tribunal Annuls 147 Orders – Absence of 143(2) Fatal Despite ROI Filed Background Assessees: Husband & wife NRIs (Gangaram Reddy & Haripriya). Transaction: Sold agricultural lands in Puppalguda village; purchased a flat in Manikonda Jagir. AO’s Action: Reopened assessments u/s 147. Computed LTCG of ₹68,06,390 each (½ share) after considering investment in flat but denied full 54F relief. Procedure: Draft assessment u/s 144C issued → objections filed before DRP but rejected as belated. AO passed f...