2014 (6) TMI 246

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..... ht in cash for repayment in full and final settlement of the Howra/agreement - the second sale transaction remained unmatured/unmaterialized – Decided against Assessee. Facts not properly appreciated – Held that:- The order of the CIT(A) is upheld, as the additional ground under Rule 46A of the I.T. Rules,1962 not admitted - all the documents were fresh which were not furnished before the AO and were not rightly admitted and entertained - all the documents are not registered with the Land Revenue Authorities - No sufficient cause has been established for not submitting them before the AO – Decided against Assessee. - I.T.A. No.63(Asr)/2013 - - - Dated:- 20-5-2014 - SH. H.S. SIDHU AND SH. B.P.JAIN, JJ. For the Appellant : Sh. P.N .....

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..... h. Harjinder Singh directly. 2. As regards ground No.4, the brief facts are that there is assessee s grievance over non-deduction of Rs.45 lacs paid to Sh. Vijay Umat for rescinding with the sale agreement by the assessee while computing capital gain. This ground was raised before the Ld. CIT(A), who rejected the same vide para 6 of his order. 3. We have perused the facts of the case and material available on record. We concur with the views of the ld. CIT(A) that as per the A.O. Sh. Vijay Kumar Umat, CA has absolutely denied of entering into any such agreement with the assessee. Secondly, without prejudice to above, for arguing and not admitting that as per copy of the affidavit/statement dt. 26.08.2008 of the assessee given before .....

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..... s has been claimed, the said transaction outrightly denied by the so-called buyer]. The Ld. CIT(A) rejected the ground of the assessee. 5. We have perused the facts of the case and material available on record. We find no infirmity in the order of the ld CIT(A), who has rightly concurred with the views of the A.O. and has not admitted the additional ground under Rule 46A of the I.T.Rules, 1962 since all the documents were fresh which were not furnished before the A.O. and were not rightly admitted and entertained. Moreover, all the documents are not registered with the Land Revenue Authorities. No sufficient cause has been established for not submitting the same before the A.O. In the facts and circumstances of the case, we find no infir .....

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