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2015 (12) TMI 23 - ITAT DELHI

2015 (12) TMI 23 - ITAT DELHI - TMI - Addition towards sale proceeds and undisclosed investment - Held that:- Assessing Officer in assessment order did not mention any statement given by the parties who have given cash to the assessee neither there is any reference related to lease deed and revenue records and its extracts in the assessment order. Therefore, the crucial evidence and the statement of the parties should have been taken into consideration while passing the assessment order by the A .....

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Sonbhadra, Sr. DR ORDER PER SUCHITRA KAMBLE, JM This appeal is filed against order dated 31/5/2011 passed by the Ld. CIT(A), Karnal for the Assessment Year 2007-08 by the assessee. 2. The grounds of appeal are as follows:- 1. Under the facts and circumstances of the case the worthy Ld. CIT(A) erred in confirming the following additions. 195000.00: Deposit in the S/B account on 18/9/2006 Explained to be received by assessee as contract money against Agri. land at Village Bhaiswal. 180000.00: Depo .....

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is 18 Acres being managed like an A.O.P. Further the Land in question is situated in the most fertile Area (along the G.T. Road Belt) of Haryana yielding High Agri. Income/Yield. The Assessing Officer and the Worth C.I.T (Appeals) failed to appreciate the factual position and made above said additions by rejecting all the explanations and Evidence produced before them, just on conjunctures and surmises. 2. The actions of worthy CIT(A) rejecting the claim of improvement in the form of boundary wa .....

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acher and possess certain agricultural land. During the course of assessment proceedings it was noticed that the assessee has deposited certain amount in her bank account maintained with Punjab & Sindh Bank, Panipat. The assessee was asked to explain the source of deposits in her abovementioned bank accounts. The assessee has filed her explanation vide letter dated 30/11/2009 wherein she stated that on 18/9/2006 ₹ 1,95,000/- cash was deposited in her account being advance lease rent mo .....

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ewal Colony, Panipat. On 9/1/2007 ₹ 1 lac deposited in the bank received from Jagmender Singh son of Shri Zile Singh being agricultural land given on contract for agriculture purpose at Village Sinkh. On 23/1/2007 ₹ 3 lacs deposited in the bank against withdrawals made on 16/1/2007 of ₹ 1.80 lacs and on 19/1/2007 of ₹ 1.20 lacs from the same bank account. On 7/2/2007 withdrawals of ₹ 9 lacs made for investment made in the LIC for the period of 5 years. On 14/2/2007 .....

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addition of ₹ 4 lacs to the income of the assessee towards sale proceeds. Addition of ₹ 1,95,000/-, ₹ 1,80,000/- & ₹ 2,80,000/- in total amounting to ₹ 6,55,000/-. 5. The Ld. CIT (A) confirms the addition made by the Assessing Officer. 6. The AR submitted that the assessee owned 4 acres of agricultural land being 2 acres at Vill. Bainswal and 2 acres at Vill. Kohan, Panipat. Her husband has 5 acres agricultural land at Vill. Sinkh, Tehsil Isarana and also her g .....

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