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ITAT Ahmedabad Quashes Reassessment as Property Sale Belonged to Earlier Year
Case Law Details
- Case Name
- Rajeshbhai Bhagwandas Patel Vs ITO (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Ahmedabad
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Rajeshbhai Bhagwandas Patel Vs ITO (ITAT Ahmedabad)
ITAT Ahmedabad Quashes Reassessment for AY 2012–13 – Property Sale Pertained to Earlier Year; Additions under Section 50C & Capital Gains Deleted
Ahmedabad ITAT has annulled a reassessment framed under section 144 r.w.s. 147, holding that the property sale which formed the very basis of the reopening pertained to the previous year relevant to AY 2011–12 & not to the reassessment year.
Assessee, an individual, filed his return of income for AY 2012–13 declaring salary income of ₹3,50,777/-. AO received information tha...
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