TMI Blog2023 (1) TMI 29X X X X Extracts X X X X X X X X Extracts X X X X ..... of the assessee in his computation it is not make him the owner of the property. In this case, the legal owner of the property is assessee who has transferred the property by registering sale deed. Therefore, we do not find any infirmity in the orders of the lower authorities. Accordingly, the appeal of the assessee is dismissed. - ITA No. 1669/MUM/2022 - - - Dated:- 21-12-2022 - SHRI PRASHANT MAHARISHI , AM Assessee by : None Revenue by : Shri. Ujjawal Chavan , SR AR ORDER PER PRASHANT MAHARISHI , AM : 01. This appeal is filed by the assessee against the appellate order passed by the National Faceless Appeal Centre, Delhi, Dated 28th April, 2022 for A.Y. 2011-12, wherein the appeal filed by the assessee against t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ingle penny is received in bank account of appellant from the sale proceeds of the said fiat. Also that no contribution is made by appellant in the purchase consideration, its stamp duty, registration fees nor EMI for repayment of the home loan. 3) The learned CIT(A) erred in upholding the order of learned AO who erred in not considering the fact that the respective share of the co-owners in the property, should be in the ratio in which they have actually contributed towards the cost of the property. From Income tax perspective, the owner of a property is the person who has purchased the property by contributing to its cost. Since appellant have not contributed anything towards the purchase consideration, shall not be treated as a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ior citizen women. He erred in raising notice of demand of Rs. 5 lac from an 59 years old women having no source of income who lives in chawl that too rented, who is staying alone with aged husband and away from her son, who did not receive a single rupee from flat sold by her son. AO erroneously treated receipts in the hands of a different person having different PAN as receipts in the hands of the assessee. If AO is of the opinion that any loss has been incurred to the revenue then AO shall scrutinize the return of correct PAN. 7) The appellant requests the appellate authority to allow to submit any additional evidence that may be required by the appellate authority to ascertain the case. 8) Without prejudice to above, the appel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 23,50,000/- and same was sold on 12th October, 2010 for ₹34,25,000/- and therefore, there is a short term capital gain earned by the assessee of ₹10,75,000/- which is required to be added. Show cause notice was issued which was required by the assesse stating the same reason. The learned Assessing Officer made an addition of ₹10,75,000/- by passing an order dated 11th December 2018. 05. The assessment order was challenged before the learned CIT (A). Before him, assessee furnished the bank statement of her son to show that he received the sale proceeds partly and partly was deposited in his loan account with LIC housing Finance Limited. It was stated that no sale proceeds was received by her to demonstrate this; she also ..... X X X X Extracts X X X X X X X X Extracts X X X X
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