SUDHA KARBHARI NAGRE,MUMBAI vs. INCOME TAX OFFICER, WARD-2(5), NASHIK, NASHIK

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ITA 926/PUN/2023Status: DisposedITAT Pune30 October 2023AY 2011-126 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the date of registration of the sale agreement, which fell within the relevant assessment year, determined the taxability. The assessee's contention regarding her husband's return was dismissed as invalid.

What were the facts?

The assessee did not file a return of income for AY 2011-12. Upon receiving information about suppressed long-term capital gains (LTCG) on property sale, a notice under Section 148 was issued. The assessee initially claimed no ownership, but later admitted to a 50% share and agreed to the addition of LTCG.

What were the issues?

Whether the LTCG on the sale of property was taxable in the assessment year under consideration, and the validity of reassessment proceedings.

Which sections of the Income-tax Act were involved?

Section 148,Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCH “SMC”, PUNE

Before: SHRI R.S. SYAL

For Appellant: Shri Sanket Joshi
For Respondent: Shri Rajesh Gawali

आदेश की प्रतितिति अग्रेतिि/Copy of the Order is forwarded to: 1. अपीलार्थी / The Appellant; प्रत्यर्थी / The Respondent 2.

3.

The concerned Pr.CIT, Pune 4. DR, ITAT, „SMC‟ Bench, Pune गार्ड फाईल / Guard file. 5. आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अधिकरण ,पुणे / ITAT, Pune

1.

Date 1. Draft dictated on 30-10-2023 Sr.PS 2. Draft placed before author 30-10-2023 Sr.PS 3. Draft proposed & placed before - JM the second member 4. Draft discussed/approved by - JM Second Member. 5. Approved Draft comes to the Sr.PS Sr.PS/PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order. *

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