2026 (9) TMI 1079

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....d Income Tax Appellate Tribunal [Tribunal] in ITA No.2192/Bang/2025. 2. Briefly stated, the facts giving rise to the present appeal are as under: 2.1 A search was conducted under Section 132 of the Act in the case of the respondent [assessee] on 01.10.2013 in connection with M/s. Telecom Employee Co-operative Housing Society Ltd. Group. 2.2 Thereafter, the Assessing Officer [AO] issued a notice under Section 153A of the Act on 05.11.2014, requiring the assessee to file a return of income. The assessee sent a letter requesting that its original return of income be treated as a return filed in response to said notice. 2.3 The AO framed the assessment for the Assessment Year [AY] 2013-2014, inter alia, making an addition on account....

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....Transfer of Property Act, 1882. 5. Aggrieved by the said decision, the assessee preferred an appeal to the learned Tribunal. The learned Tribunal found that the subject land was ancestral land belonging to a Hindu Undivided Family [HUF] of which the assessee was a member. 6. After examining the facts and documents relied upon by the AO to conclude that the land had been transferred, the learned Tribunal concluded that the said documents did not evidence any transfer of the capital asset. The Tribunal reasoned that a subsequent agreement had been executed, which would not have been necessary if the land had already been transferred pursuant to the earlier agreement. 7. More importantly, the Tribunal noted that a civil suit for parti....