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TMI Blog2024 (11) TMI 1032X X X X Extracts X X X X X X X X Extracts X X X X ..... ndent under Section 156 of the Act, vide DIN & Notice No.:ITBA/AST/S/156/2024-25/1064887374(1) dated 15.05.2024 and Penalty Notices issued under Sections 271(1)(b), 271(1)(c) and 271F vide DIN and Notice ITBA/PNL/F/271(1)(b)/2024-25/1064887356(1) dated 15.05.2024, DIN ITBA/PNL/S/271(1)(c)/2024-25/1064887359(1) dated 15.05.2024 and DIN ITBA/PNL/S/271F/2024-25/1064887361(1) dated 15.05.2024. 2. The Writ Petition is filed inter alia on the following grounds, viz., a) That the impugned order insofar as it subjects to assessment funds transferred from the NRE account of the petitioner's husband to the petitioner's domestic bank account is without jurisdiction, inasmuch as such sums are not chargeable to tax in terms of Sections 5 and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e in 2003. The petitioner purchased the property at R14, Green Acres, Kamarajar Nagar, 2nd Main Road, Perungudi, Chennai - 600 096 vide document No.4060 of 2015 on the file of Sub-Registrar, Neelangarai, Chennai on 28.05.2015 for a sale consideration of Rs. 1,57,00,000/-. It is submitted that the above consideration was paid to the vendor by obtaining home loan from ICICI Bank Limited to the extent of Rs. 1,20,00,000/-, while the remaining amount of Rs. 37,00,000/- was paid by the petitioner's non resident Indian husband out of his earnings from consultancy assignments in Muscat during the assessment year 2016-2017. 4.2. That a notice dated 03.03.2023 under Section 148 A(b) of the Act was sent through ordinary post to her residential a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... porting documentary evidence in support of the claim in her returns pursuant to the notice issued under Section 148 of the Act. 4.4. At this stage it may be relevant to note that the petitioner had earlier filed a Writ Petition before this Court in W.P.(MD)No.21481 of 2023 challenging the order passed by the respondent under Section 148-A(d) and the notice under Section 148-A of the Act dated 31.03.2023 and consequential notice under Section 142(1) of the Act dated 04.08.2023. This Court vide order dated 21.03.2024 disposed of the above Writ Petition, after observing that the issue is at the stage of enquiry and that the petitioner would be provided with the opportunity of personal hearing and also directed the respondents to consider the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .2023 and 26.07.2023. 4.6. The respondent thereafter issued another show cause notice dated 06.05.2024, wherein the following variations were proposed to be made and the petitioner was called upon to submit her objection viz., a) Investment in immovable property to the extent of Rs. 37,00,000/- was treated as unexplained investment under Section 69 of the Act. b) Credit in Bank account to the extent of Rs. 81,03,175/-, out of which, the assessee has only declared a sum of Rs. 5049/- received as income and a sum of Rs. 16,80,000/- was explained as having been used for investment in immovable property, which has already been subjected to tax as unexplained income and thus, remaining amount of Rs. 64,18,126/- was sought to be treated as u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... our husband in the capacity of NRI is not taxable in India (copies of returns of income filed in foreign country in support of the same may be provided). (c) Copy of loan statement with sources for repayments during the year under consideration and bifurcation of principal and interest payments. (d) Sources for credits appearing in your savings bank account statement with documentary evidences. 5. In view of the fact that there is a threat of proceedings becoming time barred, the petitioner was requested to provide details on 10.05.2024, while recording that the petitioner had made partial submissions vide its reply dated 09.05.2024 and the link and password for joining video conference was also sent to the registered email id. On 10.0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . b) That with regard to the amount of Rs. 64,18,126/-, the impugned order finds that even during the Video Conference, the petitioner failed to prove the sources for such credit except to state that the credit made was from her husband's account and that her husband was an NRI was also not demonstrated by the petitioner with material evidence and thus the above amount of Rs. 64,18,126/- was treated as unexplained income in the hands of the assessee. c) With regard to repayment of housing loan to the extent of Rs. 33,96,647/-, the proposal was again confirmed, inasmuch as the petitioner failed to prove the sources for such repayment of principal amount of loan. d) That in respect of income from other sources to the tune of Rs. 504 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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