NATVARLAL NARANJI DESAI,SURAT vs. ITO, WARD 2(2)(5), SURAT

ITA 509/SRT/2026Status: DisposedITAT Surat10 August 2026AY 2012-136 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the Assessing Officer erred in re-opening the assessment and making an addition of Rs. 18,80,050/-. The CIT(A) also erred in confirming this action.

What were the facts?

The assessee sold an immovable property for Rs. 1,10,00,000/-. The stamp duty paid indicated a market value of Rs. 1,47,65,306/-, leading to a difference of Rs. 37,65,306/-. This capital gain income was not shown in the assessee's return, prompting the reopening of assessment.

What were the issues?

The key issues were whether the assessment was validly re-opened under Section 147 and if the addition made under Section 50C was justified.

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 143(3),Section 50C,Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “SMC”

Before: Dr. Arjun Lal Saini

For Appellant: Shri Rasesh Shah, AR
For Respondent: Shri Ajay Uke, Ld. Sr. DR
Hearing: 18/05/2026

Per, Dr. Arjun Lal Saini, AM: Captioned appeal filed by the assessee, pertaining to assessment year (AY) 2012-13, is directed against the order passed under section 250 of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’) dated 16.01.2026 by the National Faceless Appeal Centre (NFAC), Delhi/Commissioner of Income Tax (Appeals) [in short ‘Ld.CIT(A)’] which in turn arises out of an assessment order passed by the Assessing Officer (in short ‘AO’) u/s 147 r.w.s. 143(3) of the Act, dated 27.12.2019. 2. The grounds of appeal raised by the assessee are as f

The order continues below.

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