POONAM MARWAHA,AMRITSAR vs. ACIT DCIT CEN CIR, AMRITSAR
In the result, the appeal filed by assessee is allowed
ITA 306/ASR/2024[2019-20]Status: DisposedITAT Amritsar09 Jan 2025AY 2019-20
Section 115BSection 143(3)Section 263Section 263(1)Section 69
50C as this aspect had\nnot been inquired into - It was noted that assessee had run into rough weather, whereby its\nnet worth was eroded - Accordingly, assessee went under SARFAESI proceedings - Record\nrevealed that it was not assessee who effectuated sale of subject land and land was actually\nsold by secured lenders to recover dues owed to them by assessee
