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Best-Judgment Addition of ₹3.10 Cr u/s 69A Set Aside for Denial of Fair Hearing
Case Law Details
- Case Name
- Amtula Tasneen Heera Banu Vs ITO (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Chennai
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Amtula Tasneen Heera Banu Vs ITO (ITAT Chennai)
54F Claim Rejected on Technicalities – Best-Judgment Addition of ₹3.10 Cr u/s 69A Set Aside; Matter Remanded—Penalty u/s 271AAC Also Cancelled
Assessee, a 70-year-old senior citizen, sold property for ₹3.10 Cr (TDS ₹3,10,000) in AY 2018-19 but did not file ROI, stating that entire sale consideration was re-invested in new residential property of ₹3.07 Cr, making her eligible for exemption u/s 54F. AO issued notice u/s 148 (30.03.2022) & finding no response, completed best-judgment assessment u/s 144 r.w.s.147, treating full â‚...
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