ITAT remanded matter to conduct inquiry against real owner who sold his property in assessee’s name to avoid LTCG

INCOME TAX : Assessee was working as an assistant at a salary of Rs. 12000/- per month and, hence, he was not filing any return of income – An information was received that assessee had entered into a transaction for purchase of a land from one SR and made a payment of huge amount in cash for same – On basis of same, Assessing Officer issued a reopening notice against assesseeINCOME TAX : Assessee was working as an assistant at a salary of Rs. 12000/- per month and, hence, he was not filing any return of income – An information was received that assessee had entered into a transaction for purchase of a land from one SR and made a payment of huge amount in cash for same – On basis of same, Assessing Officer issued a reopening notice against assesseewww.taxmann.com Latest Case LawsRead More

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