ITAT Grants 77-Year-Old Farmer Fresh Hearing After Consultant’s Misguidance

Ishvarbhai Lallubhai Patel Vs Assessment Unit (ITAT Surat) The Income Tax Appellate Tribunal (ITAT) Surat has ruled in favor of a 77-year-old farmer, Ishvarbhai Lallubhai Patel, condoning a 162-day delay in filing an appeal and ordering a fresh assessment. The case pertained to the Assessment Year 2015-16, where the Assessing Officer (AO) had made an addition of ₹74,17,350 to the assessee’s income under Section 50C of the Income-tax Act, 1961, after determining the fair market value of a jointly sold property. The appeal was initially rejected by the Commissioner of Income Tax (Appeals) [C...