9911796707
TMI Blog2025 (4) TMI 1611X X X X Extracts X X X X X X X X Extracts X X X X ..... The assessee raised 8 grounds of appeal, amongst which, the only issue emanates for our consideration as to whether the ld. CIT(A) is justified in confirming the addition made by the Assessing Officer under section 69 of the Act on account unexplained investments in the facts and circumstances of the case. 3. At the outset, we note that the assessee is a non-resident Indian and no return of income filed. The Assessing Officer received information that the assessee purchased immovable property paying consideration of Rs..2,23,44,500/-. The case of the assessee was reopened by issuing a notice under section 148 of the Act. According to the Assessing Officer the assessee filed return of income declaring a total income of Rs.. NIL, but, howev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5.2014 and drew our attention to page 5 of the paper book. Further, the assessee availed fund from his wife on 12.11.2014 to an extent of Rs..2,00,000/- and drew our attention to page 7 of the paper book. Further, he drew our attention to page 13 of the paper book and submits that the father-in-law of the assessee offered Rs..1,30,000/-. He argued that no addition is maintainable in view of the evidences furnished by the assessee. 5. The ld. DR Shri Shivanand K Kalakeri, CIT relied on the order of the Assessing Officer. 6. Heard both the parties and perused the material available on record. We note that the Assessing Officer passed draft assessment order against which, the assessee filed objection before the DRP. While considering the obj ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ut, however, the Assessing Officer did not give credit to the same, thereby, in our opinion, the addition of Rs..8,30,000/- is not maintainable. Accordingly, the addition made by the Assessing officer in his final assessment order of Rs..8,30,000/- is deleted and the grounds raised by the assessee are allowed. S.A. No. 24/Chny/2025 7. The Stay Application filed by the assessee in S.A. No. 24/Chny/2025 was also heard along with the main appeal. Since we have adjudicated the main appeal by deleting the addition made by the Assessing Officer, the stay petition filed by the assessee become infructuous and accordingly, the same stands dismissed. 8. In the result, the appeal filed by the assessee is allowed and the stay application is dismisse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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