9911796707
TMI Blog2015 (4) TMI 872X X X X Extracts X X X X X X X X Extracts X X X X ..... and the partnership firm and also of his and his wife’s personal account at Kotak Mahendra Bank, ITPL Branch, Whitefield, Bangalore. From this answers, it is clear that the 10 plots were purchased in Hyderabad, two in the name of the Managing Director and 8 in the name of his wife. The consideration for these 10 plots was paid to the purchaser from the account of the assessee and from the account of the partnership firm and the individual account of the Managing Director and his wife. That is why it is necessary to centralize all the returns in order to find out the true nature of the transaction - from which account, how much account is paid? and how the documents came to be registered in the name of husband and his wife? The Managing Dir ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ital and Cancer Centre, Malakpet, Hyderabad. A sum of ₹ 85,00,000/- was seized in 12 envolopes. A statement of Sri Syed Iqbad Mehdi was recorded and he admitted the cash being handed over by Sri Naseer Aziz A.N., who is the Managing Director of the assessee. Sri Naseer Aziz also admitted his visit to the hospital on 7.2.2009. Survey under Section 133A of the Act was conducted in the case of the assessee. The residential premises of Sri Syed Mohd. Mehdi was also subjected to search and incriminating documents were found and seized. Post search investigation statements were recorded from Sri Naseer Aziz and seized materials were confronted to him. According to the revenue from the entire investigation, it was found that Sri Naseer Aziz ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Hyderabad on 7.2.2009. In the absence of such relevant particular, the assessee was handicapped to submit explanation and objections to the transfer of his case from Bengaluru to Hyderabad. The notice bereft of material particular. Therefore, it does not satisfy the requirements of principles of natural justice. Therefore, the order of transfer passed in pursuance of the said notice was quashed. Aggrieved by the said order, the present appeal is preferred. 5. The learned Counsel for the revenue assailing the impugned order contends that, when the notice was issued under Section 127 of the Act to the assessee, it did not plead that they want particulars of search and seizure, but in contrary, it entered appearance through its Managing Di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his statements which are recorded on 7.2.2009 in the form of question and answers as follows: 9. Question: Please mention when you entered in to the above mentioned real estate deal with Mr. Syed M. Mehdi and also give full details. Answer: I entered in to agreement with Sri Syed M. Medhi for purchasing 10 plots for rupees 1.50 crores. A part of which I have already paid APP. 1.40 crores and the balance ₹ 10 lacks is yet to be paid. The registration for these 10 plots is over the documents are at Hyderabad with Shri Syed M. Mehdi. He shall give above documents once I paid the entire amount. 10. Question: Please explain the forms for the above mentioned payments made by you to Shri Syed M. Mehdi. Answer: The above mention ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion for these 10 plots was paid to the purchaser from the account of the assessee and from the account of the partnership firm and the individual account of the Managing Director and his wife. That is why it is necessary to centralize all the returns in order to find out the true nature of the transaction - from which account, how much account is paid? and how the documents came to be registered in the name of husband and his wife? The Managing Director is fully acquainted with all these facts. It is he, who has given all these information and he has no difficulty in going to Hyderabad for being present during the assessment proceedings of his, individual account and his wife s account. We do not see what difficulty he would have, if the as ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
