Sale and Purchase of Immovable Property not disclosed in Original Return: ITAT upholds Reassessment Proceedings [Read Order]

Sale and Purchase - Immovable Property - Original Return-ITAT - Reassessment Proceedings-TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Mumbai bench, while upholding the reassessment proceedings, held that the sale and purchase of immovable property by the assessee were not disclosed in the original return. Himanshu Manoranjan Bhatt, an individual, physically filed his income tax return on 03/11/2011. Subsequently, based on information from the ITD system under the…

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