TMI Blog2023 (7) TMI 233X X X X Extracts X X X X X X X X Extracts X X X X ..... is that Smt. Arvind Kaur had received sale consideration at Rs. 4,00,000/- i.e. Rs. 1,00,00/- in cash and Rs. 3,00,000/- by cheque. This fact is not controverted by the assessee by placing any material before us. CIT(Appeals) has rightly concluded that property once gifted cannot be sold or bequeathed. The assessee has failed to bring any evidence to controvert the finding of the lower authorit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... That in the facts and circumstances of the case and in law Id CIT(A) erred in invoking provisions of section 50C of Act to the gift of immovable property. 3. That in the facts and circumstances of the case and in law Ld CIT(A) erred in not taking cognizance of gift deed and other supporting documents executed because of non compliance of provisions of Registration Act, 1908 and provisions an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee preferred appeal before the learned CIT(Appeals), who after considering the submissions dismissed the appeal. Now the assessee is in appeal before this Tribunal. 3. At the time of hearing no one attended the proceedings. It is seen from the record that no one has been attending the proceedings on behalf of the assessee since 27.01.2021. The assessee has not sought any adjournment. Under t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t Rs. 1,27,88,000/-. 6. We have heard learned DR and perused the material available on record. Before Assessing Officer it was stated that the property was gifted but not sold. However, the Assessing Officer did not accept this explanation on the basis that Smt. Arvind Kaur had received sale consideration at Rs. 4,00,000/- i.e. Rs. 1,00,00/- in cash and Rs. 3,00,000/- by cheque. This fact is no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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