TMI Blog2015 (7) TMI 412X X X X Extracts X X X X X X X X Extracts X X X X ..... to adduce the necessary facts on this limited issue. In these circumstances, the ends of justice would require granting the appellant an opportunity of establishing the facts in this regard. However, considering that the matter has been agitated at three levels before the authorities under the Income Tax Act, 1961, we deem it appropriate to remand the matter to the CIT (Appeals) to reconsider the issue in this regard alone. It will be open to the CIT (Appeals) to seek a remand report from the AO pertaining to the facts in this regard. The appellant will be entitled to adduce additional evidence in this regard including of the respective proposed purchasers and proposed sellers under the said three transactions. - Matter remanded back. - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntered into an agreement for the sale of the same property (the second transaction) to one Sandeep Kumar at the rate of ₹ 3.75 lacs per marla. Under this agreement, the appellant received ₹ 20 lacs in advance by cash. On the same date i.e. 29.09.2006, the appellant entered into an agreement (the third transaction) with one Jatinder Kumar for the purchase of 10 marlas 45 sq. ft. at the rate of ₹ 13 lacs per marla and in respect thereof the appellant paid an advance of ₹ 20 lacs in cash. 5. The appellant s case is that the above three transactions stood cancelled and that pursuant to the cancellation, Jatinder Kumar returned the sum of ₹ 20 lacs to the appellant under the third transaction; the appellant ut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Jatinder Kumar to in turn refund the amount of ₹ 20 lacs to Sandeep Kumar under the second transaction. The appellant is obviously in possession of the facts in this regard. The onus was on the appellant to establish the same. To reiterate, it is the appellant s case that the amount received under the third transaction was utilized to in turn refund the amount to Sandeep Kumar under the second transaction. It was necessary, therefore, for the appellant to establish that she received the amount of ₹ 20 lacs under the third transaction from Jatinder Kumar in such a manner as to have enabled her to refund the advance of ₹ 20 lacs to Sandeep Kumar. In other words, it was for the appellant to establish that the amount of ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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