Ex Parte Assessment on Bitcoin Transactions Sent Back for Fresh Hearing: ITAT Delhi

Ajay Kumar Vs Assessing Officer (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT), Delhi, condoned a delay of 333 days in filing an appeal for Assessment Year 2018-19 after considering the assessee’s condonation petition, affidavit, and medical records. The Tribunal observed that the delay was not intentional and appeared to be bona fide. The case had been reopened under Section 147 of the Income Tax Act based on information received through the Insight Portal indicating Bitcoin transactions amounting to Rs.25,16,707. Since the assessee neither filed a return of income nor complied with ...