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Facts
The assessee sold an immovable property for Rs. 85,00,800/- on 27.12.2012. The case was reopened under Section 147, but the assessee did not furnish a return of income or respond to notices. The assessee later claimed the land was purchased, not sold, and that Section 56(2) was not attracted.
Held
The Tribunal found that the assessee's claim regarding the purchase of land and the non-attraction of Section 56(2) warranted further examination. The Tribunal also noted issues with the communication of the remand report to the assessee.
Key Issues
Whether the addition made on account of sale of immovable property is justified, and whether the principles of natural justice were followed in communicating the remand report and notices.
Sections Cited
147, 148, 142(1), 133(6), 144, 56(2)
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, JAIPUR BENCHES,”A-Bench” JAIPUR
Before: SHRI GAGAN GOYAL, AM & SHRI NARINDER KUMAR, JM
In view of the above discussion, this appeal is disposed of, for statistical purpose and the appeal filed before Learned CIT(A) is restored to its original number for decision afresh, after providing reasonable opportunity of being heard to the appellant-appellant. File be consigned to the record room after the needful is done by the office. Order pronounced in the open court on 19/11/2025.