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2022 (10) TMI 109 - AT - Income TaxRevision u/s 263 by CIT - miss match in income / capital of gain on sale of land or building - HELD THAT:- When a query was raised to the AR that whether the AO has raised this point with respect to applicability of provisions of section 43CA of the Act in the course of assessment proceedings, the Ld AR submitted that since the AO has issued notice 142(1) of the Act and the assesseee has complied with the directions with substantial material information and which covers the disputed issue also. AR emphasized on the details submitted by the assesse before the Pr.CIT on 4-12-2019 which includes agreement copies, booking receipts, ready recokner ,and calculation sheet of value as of flat with ready recknor value placed and the bank statements highlighting payments received from flat owners was filed first time before the Honble Tribunal as per the certificate of the assessee. Whereas the Pr.CIT has observed that the Bank statement reflecting payments received from the flats was not produced by the assessee in the revision proceedings. So it is clear that the A.O. has never verified the payments received from the flats.We find the A.O has called for the information, but there is no examination and verification of the facts or findings by the A.O on the applicability of provisions U/s 43CA of the Act. Accordingly, We do not find infirmity in the order of the Pr.CIT on the directions to A.O. for verification, examination of working submitted by the assessee and up hold the same and dismiss grounds of appeal of the assessee.
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