TaxTMI 
TaxTMI 
2023 (5) TMI 791
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....on 12-09-2018. The grounds raised by the assessee are as under: 1. The order of ld. CIT(A) is contrary to law and facts and circumstances of the case. 2. The assessment was completed u/s 148 with the following additions: i) LTCG Rs.11,42,818/-: The ld. CIT (A) failed to consider the revised computation of capital gains based on indexation for 2006-07 (earlier calculated based on 2003-04 inadvertently), filed during the course of hearing of Mr. S Ramamirtham (husband of the appellant), which was also under assessment before the same Assessing Officer. ii) Rental ncome-Rs.5,46,116/-: The ld. CIT (A) erred in confirming the addition of rental income of Kannathur property, which is co-owned by the appellant, her husband and her son, und....
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....f affidavit of the assessee. The Ld. Sr. DR opposed condonation of delay on the ground that there was no reasonable cause for the assessee to delay the appeal. We find that impugned order was passed on 31.08.2020 and substantial period of delay fall in lockdown situation arising out of Covid-19 Pandemic. The assessee is a senior citizen. Excluding Covid-19 lockdown delay, there is effective delay of 230 days only. Considering all these factors, we condone the delay and admit the appeal for adjudication on merits. Proceedings before lower authorities 3.1 The original return of income filed by the assessee was scrutinized u/s 143(3) on 19.03.2015. However, the case was reopened beyond 4 years from end of relevant assessment year and notice ....
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....assessment order and Ld. AO made addition of rental income in the hands of the assessee besides recomputing the capital gains earned by the assessee. No disallowance was made u/s 37(1). In nutshell, the income was further enhanced to the extent of Rs.16.88 Lacs. 3.3 During appellate proceedings, the assessee assailed the reassessment jurisdiction on the ground that there was no failure on the part of the assessee to disclose material facts. Reliance was placed, inter-alia on the decision of Hon'ble Apex Court in CIT vs Foramer France (129 Taxman 72) wherein it was held that in the absence of any failure on the part of the assessee to make return or disclose fully and truly all material facts necessary for assessment, proviso to new section....
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....essential requirements is that there should be failure on the part of the assessee to disclose fully and truly all material facts necessary for her assessment for impugned assessment year. During the course of original assessment proceedings, Ld. AO, vide notice dated 27.10.2014, required the assessee to file purchase and sale deed of Kanathur property. The same was duly furnished by the assessee along with computation of Long-Term Capital Gains. The other details as called for by Ld. AO were also furnished by the assessee vide reply dated 18.11.2014. Considering the same, the assessment was framed on the assessee making certain additions. Thus, it was a case wherein there was no failure on the part of the assessee to disclose material fact....