ITAT upholds Reassessment of Company for land acquired by it before incorporation through Directors

Bagora Developers Pvt. ltd. Vs ACIT (ITAT Indore)

In a recent appeal case between Bagora Developers Pvt. Ltd. and the Assistant Commissioner of Income Tax (ACIT) in the Indore region, a number of intriguing issues surrounding tax assessment came to the fore. The case, which pertained to the assessment year 2011-12, brought into question the validity of an assessment order, along with several other grounds raised by the Assessee.

One of the primary contentions raised by the Assessee was the

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