Validity of assessment order u/s. 147 r.w.s 144 - Assessee being ...

Tax Assessment Dispute: Tribunal Orders Fresh Evaluation After Procedural Lapses in NRI Property Valuation Case.

April 23, 2024

Case Laws Income Tax AT

Validity of assessment order u/s. 147 r.w.s 144 - Assessee being Non-Resident Indian - The AO assessed the property below its market value, leading to an addition of income from other sources. The appellant contested this assessment, alleging procedural lapses including the failure to consider evidence and the non-referral of the matter to the Valuation Officer. Additionally, objections raised before the DRP were not adequately addressed. The Tribunal remitted the matter back to the AO for de novo consideration, granting the appellant another opportunity to present their case.

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Validity of assessment order u/s. 147 r.w.s 144 - Assessee being ...

Tax Assessment Dispute: Tribunal Orders Fresh Evaluation After Procedural Lapses in NRI Property Valuation Case.

April 23, 2024

Case Laws Income Tax AT

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