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TMI Blog2019 (9) TMI 729X X X X Extracts X X X X X X X X Extracts X X X X ..... ary evidences produced by the assessee with regard to the payments mentioned in the sale deed. A.O, therefore, correctly made assessment under section 143(3). A.O. has examined the evidences available on record and rightly came to the conclusion that assessee paid interest in cash on PDCS. CIT(A) on examination of the material on record in the light of seized material and others rightly directed the A.O. to compute interest from PDCs after six months from the date of issue of PDCs. D.R. relied upon the above decisions of the ITAT, Delhi Bench in which similar directions of the CIT(A) have been confirmed by the Tribunal. In this view of the matter and in the absence of any representation from the side of the assessee, we do not find any m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... noticed that in four cases as mentioned in para 2.1 of the assessment order that assessee has made only part payment of the purchase consideration at the time of execution of the sale deed and the balance consideration was paid through post dated cheques (PDCs), which were encashed after several months from the date of sale deed. The A.O. further noted that the modus operandi of the BPTP Group companies and assessee that they are in practice of issuing post dated cheques. The land is purchased through sale deed, but, only part consideration have been paid and balance consideration has been paid through post dated cheques (PDCs) and for the intervening period i.e. period between the date of sale deed and the date of encashme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e material on record computed the interest @ 15% p.a. which is paid outside the books of account towards the sale transactions carried out by the assessee company and made the addition of ₹ 13,54,914/-. 3. The assessee challenged the addition before the Ld. CIT(A) that in this case assessment should not be framed under section 143(3) as assessment should have been framed under section 153C only. The Ld. CIT(A) however noted that assessment order nowhere mentions that any part of the seized material belong to company. The assessee company is one of the group company of BPTP group and the material on record shows that there is an unaccounted expenditure on account of interest paid on PDCs. The Ld. CIT(A), therefore, hel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... relied upon the impugned orders and submitted that in the following cases, the ITAT, Delhi Bench confirmed the Order of the Ld. CIT(A) in which A.O. was similarly directed to re-compute the interest on PDCs after six months from the date of issue of PDCs. (i) Business Park Builders Pvt. Ltd., New Delhi vs. ACIT, Central Circle-23, New Delhi Others in ITA.Nos.1768 1733/Del./2013 etc., Dated 29.04.2015. (ii) ACIT, Central Circle-23, New Delhi vs. M/s. IAG Promoter Developers (P) Ltd., New Delhi in ITA.Nos.1674 1765/Del./2013, Dated 31.10.2014. 7. We have considered the rival submissions and do not find any merit in the appeal of assessee. The assessee in the present appeal has challe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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