ITAT Restores 54F Claim Case as Assessee Missed Hearing Due to Family Medical Crisis

Janak Sureshbhai Patel Vs ITO (ITAT Ahmedabad) The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, in the case of Janak Sureshbhai Patel vs. ITO, addressed the issue of a reassessment being completed against a taxpayer without considering supporting evidence, as the taxpayer failed to appear before the Assessing Officer (AO) due to severe family illness. The case pertains to Assessment Year 2012-13. Initially, the assessment was completed, making additions including the disallowance of the long-term capital gains exemption claimed under Section 54F of the Income-tax Act, 1961. After th...