GANGOTRI VIHAR SEHKARI AWAS SAMITI,LUCKNOW vs. INCOME TAX OFFICER, NFAC, DELHI

ITA 42/LKW/2026Status: DisposedITAT Lucknow29 May 2026AY 2016-177 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal condoned the delay in filing the appeal and restored the matter to the AO. The assessee was granted one more opportunity to present its case with supporting evidence, with a caution to comply with the AO's directions.

What were the facts?

The assessee, a society engaged in property transactions, filed a return declaring a loss. The Assessing Officer (AO) reopened the case, estimated income at 8% on total sales, and made an addition. The National Faceless Appeal Centre (NFAC) dismissed the assessee's appeal ex-parte.

What were the issues?

Whether the AO provided adequate opportunity to the assessee and whether the assessment order was based on sufficient material. The issue also concerns the ex-parte dismissal of the appeal by the NFAC.

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 142(1),Section 144,Section 271(1)(c),Section 271(1)(b),Section 271B,Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, SMC BENCH, LUCKNOW

Before: SHRI. SUDHANSHU SRIVASTAVA

This appeal has been preferred by the Assessee against the order dated 27.03.2024, passed by the National Faceless Appeal Centre, Delhi (NFAC) for Assessment Year 2016-17. 2.0 The brief facts of the case are that the assessee is a Society registered under the Societies Registration Act and was engaged in the business of purchase and sale of immovable properties. The assessee filed its return of income for the year under consideration on 31.03.2018 declaring total sales of Rs.5,03,12,000/- being the aggregate value of registeries executed during the year and declaring a loss of Rs.2,82,429/-.

The Income Tax Department was in possession of information that the assessee had made sale/purchase of immovable property valuing at Rs.1,32,07,000./- during the year under ITA No.42/LKW/2026 consideration.

The order continues below.

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