MAHENDRA PURUSHOTTAM NAIK GAUNEKAR,PANAJI vs. INCOME TAX OFFICER, PANAJI
Accordingly. The ground thus stands allowed
ITA 12/PAN/2024[2016-17]Status: DisposedITAT Panaji01 Jul 2025AY 2016-17
Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshali
For Appellant: Mr Rahul Sarda [‘Ld. AR’]For Respondent: Mr Capt. Pradeep Arya [‘Ld. DR’]
Section 143(2)Section 147Section 148Section 250Section 253(1)Section 50CSection 50C(1)
capital gain of ₹2,93,33,256/- to tax as undisclosed income vide an assessment order dt. 29/09/2021 framed u/s 147 of the Act.
ITAT-Panaji Page 2 of 16
Mahendra Purushottam Naik Gaunekar Vs ITO
ITA No.: 012/PAN/2024 AY: 2016-17
4. Aggrieved by aforestated assessment the assessee filed an appeal before Ld. NFAC on 20/10/2021, which came
