JAYANTA MADAB BORUAH,BENGALURU V. WARD INTL. TAXATION 1(1), BLR, BENGALURU

ITITA 529/BANG/2025

AI Insights

This case involves an appeal by Shri Jayanta Madab Boruah, an NRI, against the final assessment order for the assessment year 2018-19, concerning the sale of immovable property and interest income. The Income Tax Officer had issued notices under sections 148A and 142(1) of the Income Tax Act due to non-filing of the return of income, which the assessee partially responded to. Following the assessment, which included capital gains and interest income as income from other sources, the assessee filed objections with the Dispute Resolution Panel (DRP), which upheld the additions. Ultimately, the assessee decided to withdraw the appeal, which was allowed by the Tribunal.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 832222 (ITAT-BANGALORE)
• Duration Of Justice: 10 month(s) 8 day(s)
• Appeal Type: Income Tax (International Taxation) Appeal
• Pronouncement Date: 20-01-2026
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: misc
• Appeal Filed On: 12-03-2025
• Laws Referred To: Income Tax Act
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: DIVYA K.J.
• Keywords: Capital Gains
• Section: 142(1)

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH : BANGALORE BEFORE SHRI PRASHANT MAHARISHI, VICE PRESIDENT AND SHRI SOUNDARARAJAN K., JUDICIAL MEMBER IT(IT)A No. 529/Bang/2025 Assessment Year : 2018-19 Shri Jayanta Madab Boruah, Flat 717, Shobha Quartz Apartment, Outer Ring Road, Bellandur, Bangalore – 560 103. PAN: ACHPB4238L Vs. The Income Tax Officer, Ward – 1(1), International Taxation, Bangalore. APPELLANT RESPONDENT Assessee by : Shri Manish Golyan on behalf of Sri Gupta Jai & Company Revenue by : Dr. Divya K.J. CIT-DR Date of Hearing : 13-01-2026 Date of Pronouncement : 20-01-2026 ORDER PER SOUNDARARAJAN K., JUDICIAL MEMBER This is an appeal filed by the assessee challenging the final assessment order dated 17/01/2025 in respect of the A.Y. 2018-19. 2. The brief facts of the case are that the assessee is an NRI and sold an immovable property for a consideration of Rs. 85,00,000/- and also received bank interest of Rs. 4,063/-. The AO had issued a notice u/s. 148A of the Act for non-filing the return of income even though the assessee had sold an immovable property. The assessee had not responded to the said notices Printed from counselvise.com Page 2 of 3 IT(IT)A No. 529/Bang/2025 and thereafter notice u/s. 142(1) was issued. The assessee partially submitted the details and documents as sought for by the AO. Thereafter, another notice u/s. 142(1) was issued. The assessee submitted his submissions and also filed the documents in support of the said submissions. Thereafter, a show cause notice was issued and addition in respect of the receipt of sale consideration as well as the balance available at the end of the reporting period in the bank accounts were also proposed. Similarly, interest received from the said bank was also proposed to be added as income. The assessee filed his reply and explained the facts of sale of the property and about the other additions. The assessee sought for some time to file some more particulars and therefore the AO not satisfied with the reply of the assessee, had issued a draft assessment order u/s. 144C(1) of the Act. The assessee also filed his objections with the DRP. The assessee filed various documents before the DRP and finally the DRP, after obtaining the remand report from the AO, had confirmed the capital gains as well as the interest income as income from other sources. 3. As against the said order, the present appeal has been filed by the assessee before this Tribunal. 4. At the time of hearing, the Ld.AR filed a copy of the withdrawal application dated 06/01/2026 and prayed to allow the assessee to withdraw the said appeal. The Ld.AR also stated that he has got instructions from the assessee for withdrawing the said appeal. 5. The Ld.DR submitted that he has no objection for withdrawing the appeal filed by the assessee. 6. We have heard the arguments of both sides and perused the materials available on record. 7. We have perused the application filed on behalf of the assessee dated 06/01/2026 in which the Ld.AR had specifically averred in paragraph Printed from counselvise.com Page 3 of 3 IT(IT)A No. 529/Bang/2025 number 2 that he has received instructions from the assessee for withdrawal of the appeal, considering the small quantum of demand involved. Recording the said letter given by the Ld.AR, we are allowing the assessee to withdraw the appeal filed by them. We, therefore dismiss the appeal filed by the assessee as withdrawn. 8. In the result, the appeal filed by the assessee is dismissed as withdrawn. Order pronounced in the open court on 20th January, 2026. Sd/- Sd/- (PRASHANT MAHARISHI) (SOUNDARARAJAN K.) Vice President Judicial Member Bangalore, Dated, the 20th January, 2026. /MS / Copy to: 1. Appellant 2. Respondent 3. CIT 4. DR, ITAT, Bangalore 5. Guard file 6. CIT(A) By order Assistant Registrar, ITAT, Bangalore Printed from counselvise.com "