LAGGISETTY MANOHAR KARTHIK,CHENNAI vs. ITO NON CORPORATE WARD 15(2), CHENNAI

ITA 746/CHNY/2025Status: DisposedITAT Chennai21 August 2025AY 2012-13Bench: SHRI MANU KUMAR GIRI (Judicial Member), SHRI S.R. RAGHUNATHA (Accountant Member)1 pages
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What did the Tribunal hold?

The Tribunal held that the Assessing Officer's failure to comply with the Supreme Court's decision in M/s.GKN Driveshafts (India) Ltd. vitiated the reassessment order. The AO's rejection of objections without proper reasoning was insufficient.

What were the facts?

The assessee's return for AY 2012-13 was re-opened under Section 147 based on information about the sale of an immovable property. The assessee contended that the property belonged to their HUF and the sale was already reported in the HUF's return, leading to potential double taxation.

What were the issues?

Whether the reassessment proceedings initiated under Section 147 were valid, and if the AO properly addressed the assessee's objections regarding the property ownership and potential double taxation.

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 143(2),Section 142(1),Section 54,Section 80C

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Income Tax Appellate Tribunal, ‘B’ BENCH, CHENNAI

Before: SHRI MANU KUMAR GIRI & SHRI S.R. RAGHUNATHA

For Respondent: Ms. Gouthami Manivasagam, JCIT
Hearing: 05.06.2025Pronounced: 21.08.2025

PER S. R. RAGHUNATHA, AM :

This appeal by the assessee is filed against the order of the learned Commissioner of Income Tax (Appeal), NFAC, Delhi, (in short Ld.CIT(A)) for the assessment year 2012-13, vide order dated 07.03.2025. 2. The grounds raised by the assessee are as follows:

1.

The order of the NFAC, Delhi dated 07.03.2025 vide DIN & Order No. ITBA/NFAC/S/250/2024-25/1074183071(1)

The order continues below.

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