Non-Speaking Order Set Aside – ITAT Sends ₹7.26 Cr Capital-Gain Dispute Back to CIT(A)

Kaushal Kumar Parmar Vs ITO (ITAT Pune)

Assessee did not file ROI originally. Based on information regarding sale of immovable property and cash deposits, AO issued notice u/s 148. Assessee then filed return declaring income of ₹10,43,400. AO completed reassessment u/s 147 r.w.s. 144B, making a massive addition u/s 45 by taking the entire gross sale consideration of ₹7,26,82,500 as taxable capital gains, resulting in assessed income of ₹7,37,25,900.

Before CIT(A)/NFAC, assessee did not attend hearings fixed on 05/03/2025, 19/03/2025, 05/05/2025 & 27/05/2025. CIT(A)

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