9911796707
TMI Blog2016 (1) TMI 365X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee made a wrong claim towards dealers commission at 5,16,650/- and marketing expenses of 2,98,450/- respectively for which no new evidence was produced. This quantum addition was subject matter of appeal before the Commissioner of Income Tax (Appeals). The Commissioner of Income Tax (Appeals) allowed the expenditure at 7,00,000/-. However, the findings on this addition was confirmed by Commissioner of Income Tax (Appeals) in its entirety. Admittedly, the assessee was not able to substantiate the claim made by her. However, the Assessing Officer while computing the penalty considered entire disallowance of 8,15,000/- though at this stage addition was sustained was only 2,15,000/-. To that extent the assessee shall get relief. In other word ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bakkam village for a consideration of ₹ 6,75,000/-. The relevant details of this transaction are as under: Sl.No Name of Seller Extent of land Consideration Rs Nature of document Date 01 Smt. Usharani 3.5 cents cents 6,75,000/- Sale deed 01.03.2007 In this background, this case was notified to Central Circle III(2) vide notification No.13/2008-09 dated 23.12.2008 in C.No.6121/Centrn/2008-9/VI, as a result of which a notice u/s 148 was issued on 14.12.2009. subsequently, notices u/s 143(2) and 142(1) were issued on 23.12.2009. These notices were complied with as the assessee's ld.AR appeared and filed the requisite details. The main issue in this case is with regard to capital gains on the sale of piece of land. The assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d both by the then Commissioner of Income Tax (Appeals) and the Tribunal. From the facts on records, it is apparent that the assessee had made a wrong claim of the aforesaid expenditure which could not be proven to have been incurred. The aforesaid wrong claim of expenditure resulted in furnishing of inaccurate particulars of income of the assessee resulting in concealment of income. The assessee had not brought any material or evidence or record even during the course of penalty proceedings before the Assessing Officer with regard to incurring of the aforesaid expenses. Before the Commissioner of Income Tax (Appeals) also the assessee has not brought any material or evidence on record to show that the claim of the assessee was a genuine cl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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