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The Income Tax Officer, Ward-1 (3) , Aayakar Bhavan, Dehradun Versus Shri Guneet Singh

2017 (9) TMI 476 - ITAT DELHI

Reopening of assessment - payment of on money to the seller - cogent reasons to believe - non application of independent mind by AO - addition on bases of suspicion - Held that:- In the absence of any evidence or material on record as to how the assessee is connected with the alleged seller, it is difficult to believe that assessee paid any on money to the seller. It therefore, appears that the A.O. without applying his mind to the information provided to him reopened the assessment merely on su .....

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e admissible against the assessee in evidence has not been explained by the Revenue department. The Ld. CIT(A) therefore, correctly held that even addition on merit is wholly unjustified. - Decided in favour of assessee. - ITA. No. 579/Del./2017 - Dated:- 6-9-2017 - SHRI BHAVNESH SAINI, JUDICIAL MEMBER For The Assessee : Shri Amit Arora & Shri Vishal Misra, C.A. For The Revenue : Shri T. Vasanthan, Sr. D.R. ORDER This appeal by Revenue has been directed against the order of the Ld. CIT(A), D .....

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riefly the facts of the case are that in this case, an information was received from the CIT, Central Circle, Dehradun, that a search and seizure operation was conducted under section 132 of the I.T. Act, 1961 in the case of Shri Parvinder Singh Kochar at 1- Chander Road, Dalanwala, Dehradun, the documents which were marked as pages 68, 69, 70 and 73 of Annexure LP-4 consisted of details of property and transactions made relating to sale of properties mentioned therein. It was informed that duri .....

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assessee for F-4 and ₹ 5 lakhs by Smt. Charanjeet Kaur for F-5. Since F-4 and F-5 had been purchased by assessee and another member of his family so the accounts of these two units had been given together. The A.O. placed a scanned copy of the documents on record and pointed out that on page No.73 for units F-4 &5, sale price as per registered documents, a figure of 108.23 is written under this head. It was explained that this figure was actually an amount of ₹ 108.23 lakhs @ 75 .....

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hs. These amounts fully matched with the figures under the head regist and other which were 108.23 and 71 respectively. An amount of ₹ 67 lakhs as on-money had been paid by the parties at the time of or before making of the agreement to sell and earnest money of ₹ 10 lakhs for both the units and that is why under head total a figure of 77 was written which in fact denoted 67+10. The last head of this account on page 73 i.e., balance sheet under the head UR is figure 98.23 is written .....

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paid ₹ 51,11,400 and stamp duty which tallied with the value given on the same page. The A.O. however, did not accept the contention of assessee and made addition of ₹ 33,50,000 on account of unexplained investment in property purchased in Unit F-4, in cross road mall, Dehradun. The assessee challenged the addition before the Ld. CIT(A) and detailed submissions along with case law are reproduced in the appellate order. The Ld. CIT(A) considering the material on record, in the light o .....

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.O. has not appraised the evidence himself but acted mechanically on the basis of the prompting of the A.O. of M/s. Uttaranchal Realtors, who may, in turn, be acting on the report of the investigation wing because it cannot be said that there emerged any reason to believe that from the recovered documents any income had escaped assessment in the hands of the assessee. The Ld. CIT(A) accordingly, quashed the reopening of the assessment under sections 147 & 148 of the Act. The Ld. CIT(A) on th .....

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ot in dispute that name of the assessee was not mentioned in the information provided by investigation wing, copy of the seized paper is noted in the impugned order. Learned Counsel for the Assessee also filed copy of the seized paper at page-4 of the paper book which is computerised printed sheet and as against property No.F-11 purchased by the assessee, the name of some Nautiyal has been mentioned. The department has not connected the assessee with the alleged person Nautiyal. In the absence o .....

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