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2022 (5) TMI 229 - AT - Income TaxUnexplained investment on account of difference in source of investment while buying new residential property vis-à-vis old residential property - On the strength of cash flow statement the assessee contends that he would be able to discharge the burden of proving the source of investment as well as that of stamp duty and registration also - HELD THAT:- We find that these documents were not filed before the Ld CIT(A) because at that time, the assessee’s wife was suffering from cancer and the assessee was looking after her treatment and unfortunately, she expired on 30/10/2020. So we find that there was sufficient cause for not presenting the detail / cash flow statement before the Ld.CIT(A), which occasioned the Ld.CIT(A) confirming Rs.37,43,100/-. AR undertakes before us that given an oppurtunity, the assessee is ready to go before the AO and explain the source of investment not only to the tune of Rs.37,43,100/- but also in respect of the value of stamp duty and registration which approximately comes to Rs.55 lakhs. Since it is a factual aspect, which requires verification, we remand the issue to the AO for the limited purpose of verifying the source of investment not only to the tune of Rs.37,43,100/- but also in respect of the value of stamp duty and registration [which approximately comes to Rs.55 lakhs]. And if the AO finds after verifaication, the the explanation given by the assessee to be satisfactory, then no addition is warranted on this issue. Addition disbelieving the gift received by the assessee - HELD THAT:- It is noted that the assessee had filed the copy of the gift letters of both the donors and also the respective bank statements - However, we note that these facts could not be placed before the Ld. CIT(A) because, she was undergoing treatment for cancer which eventually took her life on 30.10.2020. So the Ld.CIT(A) confirmed Rs.26 lakhs. We note that the assessee had reasonable cause for not submitting the aforesaid evidence before the Ld.CIT(A), therefore, the impugned confirmation was made by the Ld.CIT(A) to the tune of Rs.26 lakhs. However, since these facts need to be verified, for the ends of justice, the issue is also remanded to the file of the Assessing Officer for verification in accordance with law.
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