ITAT Deletes ₹75 Lakh Addition Due to Absence of Evidence of Property Sale

Maheepal Vs ITO (ITAT Delhi) The appeal before the Income Tax Appellate Tribunal (ITAT), Delhi, concerned Assessment Year 2016-17 and arose from an order of the Commissioner of Income Tax (Appeals), which had upheld an assessment made under Sections 147, 144 and 144B of the Income-tax Act. The reassessment was initiated after the Assessing Officer (AO) received information through the departmental portal based on a TDS statement under Section 194-IA showing an alleged sale consideration of ₹75 lakh relating to an immovable property at Kanchan Nagar. The assessee had not filed a return of inc...