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2021 (6) TMI 95 - AT - Income TaxReopening of assessment u/s 147 - investment in property - full transaction value of the property alleged to be purchased to by the assessee - whether approval granted was assailed as a mechanical exercise of power and hence the order deserves to be quashed - HELD THAT:- In the facts of the present case, when the Sale Deed is taken into consideration, it is clearly evident that it spells out the fact that only part consideration was moving from the assessee and thus if this bare document itself had been seen before the formation of the belief by the A.O. then while recording the reasons the AO would not have recorded the entire consideration as assessee's contribution and would have noticed that there were other contributors also No doubt the assessee was not a regular tax payer and thus, no return could be consulted by the Assessing Officer while exercising the powers of re-opening. However, the fact remains that it was incumbent on him to at least check the facts recorded in the Sale Deed carefully ascertaining the extent of the assessee's contribution. Since the facts set out in the Sale Deed cognizance of which was taken by the Assessing Officer himself while making the addition were un-disputably clear the conclusion that admittedly its proper consideration escaped the notice of not only the A.O. but the approving authority also is clearly evident from record. Thus not finding fault in the manner of the specific words recorded in the order to grant approval, which has been the crux of ld AR's argument the objection is sustained on the fact that no care or attention evidently was taken to consider the bare preliminary facts itself and the power was exercised mechanically without examining the record. An authority vested with the onerous powers of re-opening u/s 147 and granting of approval is expected to exercise its power consciously, carefully and with full awareness. The public at large cannot be put to the mercies of careless, casual, arbitrary or whimsical exercise of power. The order deserves to be quashed on this count itself. On a careful consideration of explanation offered right at the assessment stage partially recorded as find that even on merits the assessee has sufficiently explained the availability of funds. As money transactions from a Middle East country where the assessee's son was working who ultimately shifted to USA. The money transfer details clearly establish sufficiency of funds. No infirmity in the evidences relied upon and available on record has been pointed out. Satisfied by the availability of funds, even on merits, the assessee deserves relief - Decided in favour of assessee.
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