Addition based on non-service of notices set aside – Mumbai ITAT accepts source of property funds

Assessee,  a senior citizen & housewife, was subjected to reassessment proceedings u/s 147, with a best judgment assessment made u/s 144 r.w.s. 147, adding ₹1.36 crore as unexplained investment u/s 69C for the purchase of a flat. She had not filed an income tax return & the assessment was done ex-parte, as she did not receive any statutory notices due to a change of address. She came to know about the assessment only after her bank account was atta

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