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 assessee

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000316239/itat-remanded-matter-to-conduct-inquiry-against-real-owner-who-sold-his-property-in-assessee’s-name-to-avoid-ltcg.aspx