Vijayaben Rajubhai Thakor Vs ITO (ITAT Ahmedabad)
The Income Tax Appellate Tribunal (ITAT) Ahmedabad has remanded two appeals filed by Vijayaben Rajubhai Thakor back to the National Faceless Appeal Centre (NFAC) for fresh adjudication on merits. The appeals, concerning Assessment Year 2009-10, challenged an ex-parte assessment order under Section 144 read with Section 147 of the Income Tax Act, 1961, and a subsequent penalty order under Section 271(1)(c) of the Act.
Case Background:
The case originated from a reassessment proceeding initiated under Section 147 of the Act. Information surfaced during a search at the premises of Shri Rohit Chanduji Thakor, indicating that a property, in which the assessee held one-fifth ownership, was sold for Rs. 16,15,40,700. The Assessing Officer (AO) noted that the assessee had not disclosed this sale consideration or the capital gain arising from it. Consequently, the assessment was reopened.
During the reassessment proceedings, the assessee reportedly failed to comply with notices from the AO. This led to an ex-parte assessment order on February 17, 2015, where an addition of Rs. 3,20,48,140 was made as short-term capital gain from the property sale. Subsequently, a penalty of Rs. 1,07,82,129 was imposed under Section 271(1)(c) on March 27, 2018, for concealment of income.
