Case Law Details
Devang Jitendra Mashru Vs ITO (ITAT Mumbai)
Introduction: The case of Devang Jitendra Mashru vs ITO (ITAT Mumbai) revolves around the appeal against the CIT(A)’s order for the assessment year 2010-11. The individual assessee, Devang Jitendra Mashru, faced additions to his income, challenging the CIT(A)’s decision.
Detailed Analysis: The assessing officer reopened the assessment under section 147 of the Income Tax Act, 1961, as the assessee failed to file the return for AY 2010-11. The officer made additions of Rs. 37,93,000/- on account of unexplained income from the sale of immovable property and Rs. 6,36,961/- under section 69 for unexplained share transactions.
The appeal before the CIT(A) saw the assessee claiming non-ownership of the sold property and stating the share transaction income was below the taxable limit. However, due to the assessee’s non-compliance and lack of representation, the CIT(A) confirmed the assessing officer’s additions, dismissing the appeal exparte.
During the ITAT Mumbai hearing, the assessee’s representative (Id AR) appealed for a final chance to represent the case, citing lack of awareness about the proceedings. The Id DR argued the habitual non-compliance of the assessee, urging confirmation of the additions.
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