Tribunal Grants Final Opportunity to Non-Filer Before Upholding Reassessment

Rajendra Ganpat Jagtap Vs ITO (ITAT Pune) ITAT Pune allowed the assessee’s appeal for statistical purposes, directing the CIT(A) to provide one final chance to substantiate claims regarding long-term capital gains on property sale. The reassessment of Rs. 2.81 crore remains subject to proper consideration. The case of Rajendra Ganpat Jagtap Vs ITO (ITAT Pune) concerns a non-filer of an Income Tax Return (ITR) whose assessment was reopened by the Income Tax Officer (ITO) for the Assessment Year (AY) 2018-2019 due to high-value financial transactions. Case Summary and Background The taxpayer,...