2022 (2) TMI 495

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....dent: None JUDGMENT MANMOHAN, J. (Oral) 1. The appeal has been heard by way of video conferencing. 2. Present appeal has been filed challenging the order passed by the Income Tax Appellate Tribunal [ITAT] dated 25^th August, 2020 rejecting the appellant's appeal being ITA 8706/Del/2019 for the Assessment Year 2011-12. 3. The relevant facts of the present case are that the respondent....

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....n disclosed in the return of income by the respondent/assessee, but the same was also claimed to be exempt. 6. No adverse inference was made to the returned income of the respondent/assessee even when the Assessing Officer was fully aware of the Long Term Capital Gain claimed as exempt from tax. 7. Consequently, this Court is of the view that in the garb of reassessment proceedings, the appe....