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2022 (7) TMI 687 - AT - Income TaxUnexplained credit in the capital account of the assessee - During the course of survey operations documents/books of account/loose papers were found and impounded - HELD THAT:- There is no evidence that is forthcoming on behalf of the assessee to show that, as a matter of fact the payments were made under this agreement dated 06/11/2015, on the date so mentioned therein and the sale deeds were accordingly registered on the name of the vendees. There is also no denial of the fact that, as a matter of fact, the sale deeds were registered on 22/06/2016 in respect of the properties that is to be found in the agreement of sale dated 06/11/2015. Apart from the fact that the sale consideration under these four sale deeds was Rs. 23.77 lakhs, even such amount was also received in the financial year relevant for the assessment year 2017-18. The findings of the Ld. CIT(A) that the assessee bought various properties during the year and the property was bought on 30/06/2015 which was earlier to the agreement of sale, wherein the credit issue of Rs. 43 lakhs was to be considered, goes unchallenged and unimpeached. We are of the considered opinion that the alleged agreement of sale dated 06/11/2015 is not at all helpful in proving the case of the assessee and there is no evidence to show that the assessee received the entire sale consideration of Rs. 43 lakhs during the previous year relevant to the assessment year 2016-17. Even if we believe this, still the doubt entertained by the Ld. CIT(A) that inasmuch as the assessee bought property worth on 30/06/2015 wherein the credit issue was to be considered, goes unimpeached. We, therefore, do not find any reasons to interfere with the findings and the conclusions reached by the authorities below. There is no merit in the grounds of appeal and the same are dismissed.
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