TMI Blog2023 (9) TMI 742X X X X Extracts X X X X X X X X Extracts X X X X ..... nds of the assessee, but in AOP status - The assessee had not brought any material to show that the transaction of purchase of property was done in AoP status. On the other hand, the material on record clearly indicates that the properties were purchased jointly along with two other persons, namely Shri Ashok Selarka and Shri Vikesh Agrawal with a definite share in the property, which clearly indicates that there was no intention on the part of the assessee and other two parties to purchase the property in the capacity of an AoP. Thus, the findings of the ld. CIT(A) are very well reasoned and this ground of appeal has no merits. Accordingly, dismissed. Addition solely on the basis of the statement given by the vendors of the property f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /07/2013, 18/07/2013 07/08/2023 respectively, all for the A.Y. 2007-08. 2. Since the identical facts and issues involved in these three appeals, we proceed to dispose of by way of this common order. For the sake of clarity and convenience, facts relevant in appeal bearing ITA No.381/NAG/2013 are stated herein. 3. Briefly stated the facts of the case are that the assessee is an individual deriving income from other sources. The return of income for the A.Y. 2007-08 was filed on 31/03/2008 declaring a total income of Rs. 2,54,940/-. The said return was processed u/sec. 143(1) of the Income Tax Act, 1961 (hereinafter referred to as Act ) on 14/07/2008. Subsequently, the Assessing Officer (AO) based on the information given by the sell ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0,62,500/- being 25%. Similarly, the assessee was also purchased land from Shri Labhaji Chimote Others situated at Kh. No.15 for which assessee s sale consideration stated in the sale deed was Rs. 12.10 lac. The statement of Shri Deoraoji Chimote, who was one of the vendors, had been recorded u/sec. 131 on 23/12/2010. In his statement, he had stated that he had received cash of Rs. 55.00 lac over and above the sale consideration mentioned in the sale deed, in which 1/3rd of sale consideration worked out to Rs. 18,33,333/-. The AO alleged that assessee had paid consideration of Rs. 18,33,333/- over and above the sale consideration mentioned in the sale deed being 1/3rd of share of land. When this information was confronted with the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d; (ii) the ld. CIT(A) ought to have made assessment in the status of AoP and not in the individual hands of the assessee; and (iii) the ld. CIT(A) ought not to confirm on money consideration in absence of corroborative evidence. 7. On the other hand, ld. Sr.DR submitted that the order of the ld.CIT(A) is very well reasoned, based on the appreciation of evidence on record, requiring no interference by this Tribunal. 8. We had heard the rival submissions and perused the material on record. 8.1 The first ground of appeal challenges the validity of the assessment order on the ground that no notice u/sec. 143(2) was issued by the AO. The contention of the assessee is contrary to the material on record in mere perusal of the assessment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , the ld. CIT(A) had directed the AO to afford an opportunity to cross examine the vendors. The AO in the remand proceedings offered the assessee an opportunity to cross examine the vendors, but the assessee could not disprove the statements made by the vendors and also could not deny the existence of agreement for on money consideration over and above the consideration mentioned in sale deed. Under these circumstances, we are of the considered opinion that there was a conclusive evidence to show that the assessee had paid on money consideration cash at the time of purchase of agricultural land and the assessee could not offer any explanation as to the source of on money consideration paid. In these circumstances, the AO was justified in ma ..... X X X X Extracts X X X X X X X X Extracts X X X X
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