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2021 (4) TMI 490

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..... etion of the additions made by the A.O. The order does not show any evidence that Ld. CIT(A) has considered to delete the additions and it is not based on any concrete evidence. Being so, in our opinion, in the interest of justice, it is appropriate to remit the entire issue to the file of the A.O. for reconsideration of the case afresh. Appeals of the revenue are allowed for statistical purposes. - ITA Nos. 29 & 30/Bang/2015 - - - Dated:- 1-4-2021 - SHRI CHANDRA POOJARI , ACCOUNTANT MEMBER AND SMT. BEENA PILLAI , JUDICIAL MEMBER Appellant by : Shri Muzaffar Hussain , D. R. Respondent by : Ms. Shreya , A. R. ORDER PER CHANDRA POOJARI, ACCOUNTANT MEMBER These two appeals by revenue are directed against different .....

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..... on the facts and circumstances of the case, the Ld. CIT(A) erred in allowing relief of ₹ 5 lakhs without appreciating that the assessee had not given the correct address and existence of Shri Christudass for verification and therefore it is requested that the Hon'ble Tribunal may kindly set aside this issue to the file of the Assessing Officer for verification of the above. 2. Whether on the facts and circumstances of the case, the Ld. CIT(A) erred in allowing relief of ₹ 25 lakhs without appreciating that the assessee had voluntarily disclosed additional income of ₹ 25 lakhs from his projects, had not substantiated that the amounts received were in the nature of advances but not sale consideration while retracti .....

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..... Soundarya Promoters Developers, etc. The Assessee filed his return of income on 10.12.2009 admitting an income of ₹ 3,91,472/- which was the remuneration received from M/s. Soundarya Silk Process and income from other sources. The Assessing Officer was of the view that the assessee had purchased landed properties from one Sri. B.S. Rangappa to an extent of 8 acres and 20 guntas for ₹ 34,20,000/- after incurring an expense of ₹ 8,08,000/- towards Stamp Duty and Registration charges. It was explained that the properties were purchased on 26.05.2005 from Ashwathanarayana and others and there was an understanding between the parties to the effect that the sellers would be getting the BMRDA approvals and other related approva .....

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..... s. 234A, 234B and 234C. On appeal, the CIT(A) deleted the addition made by the A.O. Hence, the revenue is in appeal before us. 3. Similarly, for the assessment year 2008-09 the assessee raised an appeal before the Ld. CIT(A) and the brief facts of the case are that the assessee is an individual and is assessed to tax in the status of 'Individual'. A search u/s. 132 of the Act was carried out in the assessee's case on 28.12.2007. Consequently, a notice u/s. 153A was issued. The assessee is engaged in the business as a land developer and is also a partner of M/s. Soundarya Silk Process and M/s. Soundarya Promoters Developers, etc. For the year under reference, the assessee filed his return of income on 10.12.2009 admitting an .....

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..... 377; 5.00 lakhs by invoking Section 69C of the Act. Further, the Assessing Officer made an addition of ₹ 25.00 lakhs alleging that the same was agreed to be offered by the assessee during his statement recorded at the time of search and he also did not accept the explanation offered by the assessee. During the year the assessee had borrowed a sum of ₹ 1,95,00,000/- from one Sri. Christu Das. Ignoring the explanation of the assessee, the AO added the entire amount of ₹ 2,58,75,000/- as 'undisclosed income' which included assessee's funds to the extent of ₹ 57.00 lakhs and also ₹ 6,75,000/- being the amount borrowed from the assessee's wife. He also charged interest u/s. 234A, 234B and 234C of the .....

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