ITAT Quashes Assessment as Jurisdiction Was Not Validly Transferred Under Section 127

Gaurav Singhal Vs ITO (ITAT Delhi) The assessee filed an appeal against the order of the Commissioner of Income Tax (Appeals)-22, New Delhi, for Assessment Year (AY) 2014-15. The assessment had treated the assessee’s claimed exempt long-term capital gains of ₹49,67,060 as income from other sources, made an addition of ₹2,48,353 as undisclosed income on account of undisclosed expenditure, and levied tax under Section 115BBE. Before the Tribunal, the assessee challenged the validity of the assessment on the ground that the Assessing Officer (AO) who completed the assessment lacked juri...