ITAT Deletes Section 43CA Addition as Presumptive Taxation Already Includes Stamp Duty Value

Mukesh Vasantkumar Chandan Vs ITO (ITAT Mumbai) The appeal before the Income Tax Appellate Tribunal (ITAT), Mumbai, was filed by the assessee against the order of the Commissioner of Income Tax (Appeals) [CIT(A)] for Assessment Year 2014–15. The appeal was initially disposed of ex parte but later restored for fresh adjudication on merits following a Miscellaneous Application. At the outset, the Tribunal considered a delay of 591 days in filing the appeal. The assessee explained that the CIT(A)’s order was passed ex parte and was neither received physically nor communicated through any noti...