TMI Blog2019 (1) TMI 748X X X X Extracts X X X X X X X X Extracts X X X X ..... rification. Therefore, we deem it appropriate to remit the issue back to the Assessing Officer who should pass a fresh assessment order after ascertaining the entire facts and circumstances. Other addition with respect to deposits in bank accounts is also remitted to the AO as it is also related to the sale made by the assessee as power of attorney holder. AO should co-relate the sale consideration and date of receipt of sale consideration and deposit in the relevant bank account and then withdrawals from this bank account to the real owner of the property. The assessee will be provided reasonable and sufficient opportunity of being heard. - Appeal of the assessee stands allowed for statistical purposes. - ITA No.479/Lkw/2017, Stay App ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 77; 1,22,66,000/- and Shri Mohan Dhingra had replied to such notice, a copy of such reply was placed at pages 15 to 17 of the paper book. Our attention was also invited to copy of computation placed at page No. 19 of the paper book where Shri Mohan Dhingra had declared the capital gain on this property and further our attention was invited to the letter dated 28/03/2018 written by Income Tax Officer, Ward-1(3) to Shri Mohan Dhingra wherein he had accepted the fact that this property was sold by Shri Yogesh Malhotra, the assessee in the present case on his behalf and has further held that this transaction has been duly disclosed in your computation of income. Therefore, in view of these facts, Learned A. R. submitted that the matter needs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es 18 to 20 of the paper book and copy of letter written by Income Tax Officer, Ward-1(3) accepting the claim of Shri Mohan Dhingra that he had included the Long Term Capital Gain on the sale made through his power of attorney holder Shri Yogesh Malhotra, was rightly declared in his return of income. All these facts need factual verification. Therefore, we deem it appropriate to remit the issue back to the Assessing Officer who should pass a fresh assessment order after ascertaining the entire facts and circumstances. The other addition with respect to deposits in bank accounts is also remitted to the Assessing Officer as it is also related to the sale made by the assessee as power of attorney holder. The Assessing Officer should co-relate ..... X X X X Extracts X X X X X X X X Extracts X X X X
|