TMI Blog2022 (11) TMI 969X X X X Extracts X X X X X X X X Extracts X X X X ..... Shahjahan W/o Mohd. Tayyab Kureshi and Smt. Rukshana Begum W/o Shri Khalid. Therefore, the aspect of ownership of the property in joint names which was the subject matter for making the addition as per the stamp valuation had escaped attention of the Tribunal. Therefore, the order [ 2019 (6) TMI 826 - ITAT DELHI] passed by the ITAT Delhi Bench SMC is hereby recalled and the Registry is directed to fix the hearing of the appeal in due course by issuing notices to the parties. - M.A. No. 268/Del/2019 (In ITA no. 3814/Del/2018) - - - Dated:- 18-10-2022 - SHRI KUL BHARAT , JUDICIAL MEMBER Assessee represented by : Ms. Kanika Jain, Adv. Department represented by : Sh. Sanjay Kumar, Sr. DR ORDER PER KUL BHARAT , JM ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rd, which warrant the order of the Hon'ble ITAT to be recalled and the appeal be posted for hearing afresh thereafter to substantiate the cause of fair justice to the illiterate house wife, who is being threatened by the revenue for penalty for concealing income and evading tax. The issue broadly in principle was whether the addition of Rs. 3029000 made in the re-assessment its source and extent was valid. The assessee, who paid only Rs. 7.5 Lacs through her husband can be assessed on Rs. 3029000 which has been valued for stamp duty purposes and exempt of half ownership given in sale deed not believed. OUR SUBMISSIONS A) As regards Para 'a' validity of notice u/s 147/148 of I.T. Act. (a) The relevan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... belief, due application of mind and not borrowed inference but independent belief. It is well settled that material at the time of issue of notice u/s 148 can only be considered in the reasons for the belief and not any subsequent material or proceedings or events including the contents of re-assessment order for validity of re-assessment order. Authorities cited to this effect by the counsel. The Hon'ble ITAT with due respect, has not given a finding or decision on this issue by mistake, which is a fundamental error causing grave injustice to this matter. The Hon'ble ITAT has slightly touched on this aspect in Para- 3 of its order, but by mistake has omitted to give a finding/decision in Para- 5 of its order. Reasons for issu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o the seller directly although the purchase deed is in the wife's and mother's name, the investment if at all came from the husband, it cannot be added in part or full in the hands of assessee, even on facts. On the question of quantum of addition, paragraphs 5 and 3 may be seen. The records reveal that the consideration stated in sale deed was Rs. 1500000 given by the husband and taken by the stamp collector at Rs. 3029000. Thus, the assessee's share came to Rs. 750000, but the entire value Rs. 3029000, the value for collecting the stamp duty, has been added by the Hon'ble ITAT. The counsel in view of ground No. 6, 7, 8 and 9 before it had raised this plea at the time of hearing in Tribunal of section 56, which was in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The assessee has placed on record sale-deed which was the basis for making addition by the AO. A bare reading of the sale-deed makes it clear that the property as per stamp valuation was purchased at Rs. 30,29,000/- against the actual sale consideration of Rs. 15 lakh and was jointly purchased by Smt. Shahjahan W/o Mohd. Tayyab Kureshi and Smt. Rukshana Begum W/o Shri Khalid. Therefore, the aspect of ownership of the property in joint names which was the subject matter for making the addition as per the stamp valuation had escaped attention of the Tribunal. Therefore, the order dated 01.01.2019 passed by the ITAT Delhi Bench SMC in ITA no. 3814/Del/2018 is hereby recalled and the Registry is directed to fix the hearing of the appeal in d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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