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TMI Blog2025 (2) TMI 289X X X X Extracts X X X X X X X X Extracts X X X X ..... is bad in law, illegal and void-ab-initio. The consequential assessment order passed is bad-in-law, illegal and void-ab-initio. 2. The Appellant states that the assessment order passed by AO is in gross violation of principles of natural justice. 3. The learned CIT(A) has erred in passing the appeal order in gross violation of principles of natural justice. 2. The learned CIT(A) has erred in confirming the addition of Rs. 3,89,843/- made by the AO u/s. 56(2)(x) of the Act 69C on account of difference between agreement value and stamp duty value. 5. The Appellant craves leave to add, amend and/or alter the ground or grounds of appeal either before or at the time of hearing of the appeal." Brief facts of the case are as under: 2. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... difference was taxable as income from other sources u/s. 56(2)(x). Therefore, assessee's contention is not as per the law applicable for the AY under consideration. Hence, the contention is rejected and ground is dismissed. 6.1 Regarding ground No.2, it is seen that no evidence has been furnished till date to establish that the property was booked in October, 2015 for consideration of Rs. 26367000/-. As per the facts available on record, everything related to the property happened only in the year under consideration. Since nothing has been brought on record to avail the benefit under proviso 1 & 2 below the clause (x) of section 56(2), the claim that the builder reduced the sale consideration from Rs. 26367000/- to Rs. 25525375/- in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see that the no malafide intention on behalf of the assessee in filing the appeal before this tribunal belatedly. 4.1. The Ld.DR though opposed the condemnation of delay in filing the present appeal before this tribunal, could not controvert the cause that led to such delay. We have perused the submissions advanced by both sides in the light of records placed before us. 5. In our view, the assessee has made out a reasonable cause for the delay that is caused in filing the present appeals before this Tribunal. Nothing to establish any contrary intention has been filed by the revenue before this Tribunal. In our opinion there is a sufficient cause for condoning the delay as observed by Hon'ble Supreme Court in case of Collector Land Acquis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y appeal or any application, other than an application under any of the provisions of Order XXI of the Code of Civil Procedure, 1908, may be admitted after the prescribed period if the appellant or the applicant satisfies the court that he had sufficient cause for not preferring the appeal or making the application within such period." 6. Considering the submissions by both sides and respectfully following the observation by Hon'ble Supreme Court, we find it fit to condone the delay caused in filing the present appeals as it is not attributable to the assessee. Accordingly, we condone the delay of 40 days in filing the present appeal before this Tribunal. 7. On merits, the Ld.AR submitted that the only issue raised by the assessee is on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the addition made under section 56(2)(x) of the act is bad in law. 7.4. On the contrary, the Ld.DR relied on orders passed by authorities below. We have perused the submissions advanced by both sides in the light of records placed before us. 8. Admittedly, the safe harbour applicable for year under consideration is 3%. There is no doubt that the difference between originally agreed price vis-à-vis the actual price in to the facts of the present case, as per the registered agreement for sale dated 18/11/2017 is 1.5%. The CBDT vide circular number 8/2018 explained the intention of rationalisation in section 43 CA, section 50C and section 56 of the act, explaining bona fide variation and the undue hardships faced by assessee's. 8.1. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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