MR JAYADEEP BOKIL,PUNE vs. ITO WARD-5(2), PUNE, PUNE

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ITA 428/PUN/2025Status: DisposedITAT Pune28 March 2025AY 2020-21Bench: SHRI MANISH BORAD (Accountant Member), SHRI S S VISWANETHRA RAVI (Judicial Member)1 pages

AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal found it appropriate to restore the issue to the Assessing Officer for fresh adjudication. The assessee was directed to procure a valuation report from a Registered Valuer, and the Assessing Officer was to consider it and provide an opportunity of being heard.

What were the facts?

The assessee's appeal was directed against the order of the CIT(A) confirming an addition of Rs. 27,15,000/- made under Section 144. The assessee contended that the fair market value (FMV) of an immovable property was less than the value adopted by the Stamp Valuation Authority, and a Registered Valuer had agreed to provide the valuation.

What were the issues?

Whether the addition made under Section 144 is justified without considering the FMV of the property and whether the matter should be remanded for fresh valuation.

Which sections of the Income-tax Act were involved?

Section 144

AI-generated summary — verify with the full judgment below

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

Before: SHRI MANISH BORAD & SHRI S S VISWANETHRA RAVI

For Appellant: Shri Krishna Gujarathi (virtual)

For Respondent: Shri Basavaraj Hiremath – Addl CIT

आदेश की प्रतितिति अग्रेतिि/Copy of the Order is forwarded to:

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