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TMI Blog2019 (7) TMI 1118X X X X Extracts X X X X X X X X Extracts X X X X ..... same especially since six years had elapsed by the time the return was filed. If at all, the Department could take up proceedings, for the assessment year 2006-07, it could have been only prior to 31.03.2013. The return was filed by the mother, on 27.08.2013. In such circumstance, it cannot be said that the income that was added on to the assessee had already suffered capital gains tax at the hands of the mother. The fact remains that the amounts were credited to the account of the assessee and it remained as undisclosed income insofar as the assessee having returned only ₹ 1,17,830/- in the subject assessment year. Assessee would in fact point out an order issued under Section 271(1)(c) of the Income Tax Act, 1961 wherein the Inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sri. Anil D. NAIR, Smt.O.A. Nuriya, Smt. Rosie Athulya Joseph And Sri. R. Sreejith JUDGMENT VINOD CHANDRAN, J: The question of law raised in the appeal is re-framed by us as follows: Whether the additions made to the income of the assessee can be set aside on the mere premise that with respect to the major addition of ₹ 60 lakhs the mother of the assessee had filed a return of income conceding a capital gain on a property, the sale of which resulted in the deposit of ₹ 60 lakhs in the bank account of the assessee? 2. The assessee was in appeal before the Tribunal and the Tribunal on the ground of the assessee's mother having filed a r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , it cannot be said that the income that was added on to the assessee had already suffered capital gains tax at the hands of the mother. The fact remains that the amounts were credited to the account of the assessee and it remained as undisclosed income insofar as the assessee having returned only ₹ 1,17,830/- in the subject assessment year. 4. The learned Counsel for the assessee would in fact point out an order issued under Section 271(1)(c) of the Income Tax Act, 1961 wherein the Income Tax Officer had found that since there was an explanation offered for the source of ₹ 60,00,000/-, the assessee could be absolved from penalty to that extent. It is, hence, the submission of the assessee that the explanation c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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