ITAT Hyderabad held that the final assessment under section 143(3) r.w.s 144C(13) passed beyond statutory time limits is invalid. The ruling reinforces that the outer limit under section 153 cannot be extended, emphasizing strict compliance with limitation provisions.
ITAT Hyderabad condoned a 292-day delay in filing an appeal due to the assessee’s age, dependence, and overseas travel. The case is remanded for fresh adjudication of capital gains, ensuring fair opportunity and justice.
The Tribunal found that once additional evidence is admitted and remand is called for, the Assessing Officer must be given an effective opportunity to respond. Deciding the appeal without waiting for the remand report was held to be legally unsustainable.
The Tribunal refused to condone a 441-day delay, ruling that failure to monitor appeal filing cannot constitute sufficient cause. The case underscores that professional lapses and lack of diligence will not excuse late appeals.
The Tribunal held that the assessee proved substantial upgrades to a semi-constructed house using bills and contractor records. It allowed the ₹4.05 crore indexed improvement cost, rejecting the AO’s suspicion-based disallowance.
ITAT Hyderabad rules that gross sale proceeds of capital assets cannot be treated as taxable income without allowing cost of acquisition. Tribunal orders reassessment to compute correct capital gains, despite assessee’s non-compliance.
ITAT Hyderabad held that verifying documents of only one party cannot substitute verification of all transactions under Section 69C. The matter is remanded to the AO for de novo scrutiny of purchase bills, ledger accounts, transportation memos, and payment proofs for all thirteen parties.
ITAT Hyderabad held that notices issued under Sections 148 and 148A by a Jurisdictional Assessing Officer were invalid, stressing only FAOs can issue such notices under the faceless assessment scheme.
Detailed seized agreement and subsequent sale deed considered strong corroboration. Addition under Section 69A sustained in search-based reassessment.
The Tribunal held that even extraordinary circumstances like COVID-19 do not justify appeals filed after limitation expiry. The assessee’s appeal was dismissed due to failure to provide cogent reasons or affidavits supporting the delay.
