Annamma Samkutty Vs ITO (ITAT Pune)
ITAT Quashes Section 148 Reassessment for Failure to Verify Registered Sale Deed; ITAT Allows Appeal Against Section 148 Reopening Beyond Three Years; ITAT Sets Aside Reassessment Where Section 149 Threshold Was Not Satisfied; ITAT Holds Section 148 Notice Invalid Without Evidence of ₹50 Lakh Escapement
The appeal was filed by the assessee against the order of the Commissioner of Income Tax (Appeals), NFAC, Delhi, passed under Section 250 of the Income Tax Act, 1961 for Assessment Year 2016-17, arising from the reassessment order passed under Sections 147 read with 144B.
The Assessing Officer (AO) received information through the ITBA Portal indicating payment of consideration of ₹62,02,401 for purchase of an immovable property under Section 194-IA. Since the assessee was flagged as a non-filer, the AO issued a notice under Section 148A(b) on 30.01.2023. After considering the assessee’s reply, an order under Section 148A(d) and a notice under Section 148 were issued on 14.03.2023.
In response, the assessee stated that she was a dependent housewife with no source of income and had only been shown as a co-owner of the property. According to her, the entire consideration had been paid from her husband’s earnings and savings while he was an NRI, with funds transferred through NRE bank accounts. She furnished copies of her bank statement, her husband’s NRE bank statement, passport, visa stamps, stamp duty receipt, fund flow statement, and sale deed.
