POONAM MARWAHA,AMRITSAR vs. ACIT DCIT CEN CIR, AMRITSAR
ITA 306/ASR/2024[2019-20]Status: DisposedITAT Amritsar09 Jan 2025AY 2019-20
Bench: Sh. Vikram Singh Yadav & Sh. Udayan Dasgupta
Section 115BSection 143(3)Section 263Section 263(1)Section 44ASection 69
50C as this aspect had
not been inquired into - It was noted that assessee had run into rough weather, whereby its
net worth was eroded - Accordingly, assessee went under SARFAESI proceedings - Record
revealed that it was not assessee who effectuated sale of subject land and land was actually
sold by secured lenders to recover dues owed to them by assessee
