2018 (7) TMI 1986

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..... the assessee as an advance for purchase of the plot of land and, therefore, to that extent the addition can be made if assessee has not surrendered the amount. Since the assessee has already surrendered the amount of ₹ 1,00,000/-, therefore no further addition can be made on account of investment in the land when the said agreement found during the course of survey was not given effect by th .....

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..... the assessee is directed against the order dated 22ND December, 2017 of ld. CIT (A), Alwar for the assessment year 2013-14. The assessee has raised the following ground as under :- 1. The ld. CIT (A) has erred on facts and in law in confirming the addition of ₹ 5,75,000/- on account of unexplained investment in immovable property. 2. The assessee craves to amend, alter a .....

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..... 00/- was paid as an advance on the date of agreement and balance of ₹ 5,75,000/- was to be paid by 10th May, 2012. Accordingly, the assessee who is the father of Shri Harish Kumar in his statement recorded under section 133A surrendered the undisclosed income including the income of ₹ 5,75,000/- on account of investment in plot. After the survey, the assessee vide letter dated 16.01.20 .....

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..... we note that the assessee produced a sale deed dated 18.05.2012 whereby the owner of the land Shri Daya Kishan sold the said plot of land to third party Mrs. Nirmala Devi and, therefore, once the said plot of land was sold by the owner to third party and not to the assessee or his son, then the question of investment of ₹ 5,75,000/- which was to be paid at the time of sale deed does not aris .....

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..... ght on record by the assessee regarding the sale of plot of land to the third party, then the statement recorded under section 133A which is contrary to the actual facts, cannot be a basis of addition. Accordingly, in the facts and circumstances of the case, the addition made by the AO is not sustainable in law and the same is deleted. 4. In the result, appeal of the assessee is allowed. .....

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