ITAT Nagpur Directs Fresh Assessment: Assessee’s Gain Shouldn’t Come from AO’s Error

City Land Associates Vs PCIT (ITAT Nagpur)

ITAT Nagpur order directing fresh assessment and The assessee should not be allowed to be enriched at the cost of mistake by AO

Background of the Case

Assessee: City Land Associates, a builder and developer, filed its return of income for AY 2016-17, declaring ₹4.04 crore, including an additional disclosure of ₹2.20 crore made during a survey under Section 133A conducted on 22/09/2015. The Assessing Officer (AO) accepted the return without making any further verification.

Issue Identified b

Please become a Premium member. If you are already a Premium member, login here to access the full content.