9911796707
TMI Blog2019 (6) TMI 826X X X X Extracts X X X X X X X X Extracts X X X X ..... (A), erred in law, on facts and in surrounding circumstances in failing to appreciate that since the Ld. A.O. was not having any tangible and specific material such as, the sale deed in question except vague AIR information at the time of forming opinion, the impugned belief so entertained by him is not only speculative in nature but also inaccurate particular and incorrect facts in assessment order thereby rendering the whole assessment void in law, ab-initio. 3. That in doing so, the Ld. CIT(A), erred in law, on facts and in surrounding circumstances in failing to appreciate that his appellate order too, based on inaccurate particulars/incorrect facts appearing in reasons and in the impugned assessment order, has also been rendered null ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for affording financial security/financial independence, to his wife in her old age and it cannot be regarded as a "sin" or unexplained investment. 9. That in doings so, the Ld. CIT(A) erred in law on facts and in surrounding circumstances in holding, the entire investment of Rs. 3029000/- to be unexplained in the hands of appellant merely on illogical ground "no evidence is furnished for the other half investment in the said property." That the appellant craves leave to modify/ amend or add any one or more grounds. 2. The brief facts of the case are that as per AIR information the assessee purchased an immovable property for Rs. 30,29,000/- during F.Y. 2007-08. During the assessment proceedings, the AO sent various notices to the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rvice mere issuance of notice itself, does not tantamount to valid service as per law. It was further submitted that Ld. CIT(A) has faield to appreciate that the entire investment of Rs. 3029000/- to be unexplained in the hands of appellant merely on illogical ground "no evidence is furnished for the other half investment in the said property." Hence, he requested to cancel the orders of the authorities below and allow the appeal of the assessee. 4. On the other hand, Ld. DR relied upon the orders of the authorities below. 5. I have heard both the parties and perused the records especially the impugned order. I note that the notice u/s. 148 of the Act was issued after taking prior approval of the competent authority and the same was serve ..... X X X X Extracts X X X X X X X X Extracts X X X X
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