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The Income-tax Officer, Ward 1 (2) , Kota Versus Smt. Nand Kanwar Chandel

2015 (10) TMI 587 - ITAT JAIPUR

Unexplained investment made in house property - CIT(A) deleted the addition - Held that:- The UIT Kota had allowed to transfer this plot no. 573, Basant Vihar, Kota vide its order no. 569-70 dated 22.07.2008 by charging Urban Tax @ 25% in the name of assessee. It is proved that plot was really purchased by the assessee in 1988. However, there is no evidence regarding investment made in construction of the house as well as payment of Urban Tax @ 25% paid to the UIT, Kota. Thus this issue is set a .....

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g authority i.e. ITAT. The aspect of construction made on this plot and Urban tax @ 25% paid by the assessee to the UIT, Kota need to be verified after allowing reasonable opportunity of being heard to the assessee. For limited purpose, this case is set aside to the AO. - Decided partly in favour of revenue for statistical purposes. - ITA No. 282/JP/2013 - Dated:- 11-8-2015 - SHRI R.P. TOLANI AND SHRI T.R. MEENA, JJ. For The Revenue : Shri Raj Mehta (JCIT) For The Assessee : Shri Sandeep Jhanwar .....

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44AF of the IT Act. The case was scrutinized under section 143(3) of the Act as there was an AIR information that assessee had purchased immovable property on 16.05.2008 for ₹ 30,00,000/-. The assessee was given reasonable opportunity of being heard which was availed by the assessee. It was submitted by the ld. A/R of the assessee that the registration of house no. 573, Basant Vihar, Kota was executed on 16.05.2008 just for formality, but in fact no sale consideration in cash was passed on .....

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assessee was mentioned as 573, Basant Vihar, Kota, which is the house for which matter is under assessment. This house was under possession of the assessee since 1988. The AO recorded the statements of Smt. Nand Kanwar Chandel, assessee, Shri Ravindra Kumar Goyal, seller of plot, Shri Gajanand Verma, Power of Attorney holder on various dates. The contents of statements had been reproduced by the AO at pages 2, 3 & 4 of his order. After considering all the evidences and statements, the AO ob .....

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uments, it was found that all the documents are relating to the plot only and relating to the assessee as well as her husband are contradictory to each other because how it was possible that on the same date the seller had sold the said plot to the assessee and on the even date he had given Power of Attorney for selling the plot as well as executed the Will in favour of the husband of the assessee. All these things cannot be made simultaneously. Hence in absence of registered document ownership .....

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; 30,00,000/- in cash. He further reproduced the order of Deputy Secretary, UIT, Kota that Plot No. 573, Basant Vihar, Kota got transferred on 16.05.2008. The assessee also incurred the registration charges of ₹ 1,84,270/-. Therefore, total investment in her property at ₹ 31,84,270/- was treated as unexplained investment in the hands of the assessee. 3. Being aggrieved by the order of AO, assessee carried the matter before ld. CIT (A) who had allowed the appeal of the assessee by obs .....

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/her interest. Considering the entirety of facts, he held that transfer of property under section 53A of the T. P. Act got completed in financial year 1988-89 and same was registered in F. Y. 2008-09. Apparently the consideration as per prescribed rate was mentioned to complete the formalities. As per ld. CIT (A) no consideration was paid by the assessee to her husband (as Power of Attorney holder of seller). Therefore, addition of ₹ 30,00,000/- is deleted. 4. The assessee has, however, fa .....

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given to her. Any demand on account of this plot will be paid by the assessee and the registry of this plot would be done after construction which was carried out by the purchaser herself. The consideration was ₹ 45,000/- in this agreement. The ld. A/R also has drawn our attention on Power of Attorney dated 19.08.1988 given by Shri Ravindra Kumar Goyal in favour of Shri Gajanand Verma to look after this plot, to appear before any court or office and other purposes and for registry, constr .....

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that this was formality of passing the title in the name of Smt. Nand Kanwar through registry, she is the actual owner of the plot since 19.08.1988. He further relied upon the order of ld. CIT (A) and requested to confirm the order of ld. CIT (A). 6. We have heard rival contentions and perused the material on record. The plot no. 573, Basant Vihar, Kota was originally allotted in the name of Shri Ravindra Kumar Goyal by the UIT, Kota vide allotment no. F.11/Vikray/1303 dated 09.06.1987 for 99 y .....

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