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2022 (1) TMI 986

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..... e u/s 148 of the Act to examine the transaction. Issuing of notice in itself cannot be given certainty that the addition will be made in the hands of assessee. By way of issuing notice Ld. AO gathers the information and examine the transaction and making addition in the hands of assessee comes at a subsequent stage i.e. during assessment proceedings. The assessee s case was not scrutinized u/s 143(3) of the Act for A.Y. 2010-11 and information was received by the Ld. AO from external sourced. We accordingly dismiss legal ground raised by the assessee challenging the validity of assessment proceedings by issuance of notice u/s 148 of the Act. Taxability of the capital gain - As per the definition of transfer provided in subclause .....

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..... of the Assessee for Assessment Year 2010-11 is directed against the order of Ld. Commissioner of Income Tax(Appeals) (in short Ld. CIT]-1 Indore dated 13.02.2019 which is arising out of the order u/s 143(3) of the Income Tax Act 1961(In short the Act ) dated 29.12.2017 framed by ITO-1(4), Indore. 2. Brief facts of the case as culled out from the records are that the assessee is an individual. As per Annual Information Report the assesse along with 21 other persons had sold immovable property at Talawali Chanda, Indore during F.Y. 2009-10 relevant to A.Y. 2010-11. The stated consideration as per the deed was ₹ 30,00,000/- and it was registered on 21.10.2009 and on this date market value of the property assessed by the Sub-Registr .....

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..... m the end of the relevant assessment year. The said reopening is therefore without jurisdiction, illegal and bad in law. 2. That on the fact and in the circumstances of the case and in Law the ld. CIT(A) erred in confirming the act of the Assessing Officer regarding issuance of notice u/s 148 of the Act even when the same was issued on the wrong address and not on the proper address of the assessee as available with the Income Tax Department. Hence, assessment framed on the basis of such notice is without jurisdiction, illegal and bad in law the same now requires to be quashed. 3. That on the fact and in the circumstances of the case and in Law the ld. CIT(A) erred in approving the proceeding initiate by the Assessing Officer by .....

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..... g the grounds related to charging of interest u/s 234A of ₹ 89,606/- even when the assessee has duly filed the return in response to notice issued u/s 148 within time as allowed from the actual date of service of notice to her. 7. That on the fact and in the circumstances of the case and in Law the ld. CIT(A) erred in not deciding the ground related to charging of interest u/s 234B of ₹ 93,588/- which is excessive and moreso interest under this section is chargeable as per sub-section (3) of section 234B of the Act. 4. Ld. counsel for the assessee vehemently argued referring to the written submission and compilation containing 149 pages and citing various decisions appearing in the paper book. 5. Per contra ld. Dep .....

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..... 143(3) of the Act for A.Y. 2010-11 and information was received by the Ld. AO from external sourced. 7.1. Under these given facts we find no merit in the legal issue raised by the assessee. The decision referred and relied by the ld. counsel for the assessee will not be of any help since the facts are distinguishable. We accordingly dismiss legal ground raised by the assessee challenging the validity of assessment proceedings by issuance of notice u/s 148 of the Act. 8. As far as merits of the case are concerned on perusal of the records and the copy of sale deed available in the paper book, we find that the sale deed was presented before Sub-Registrar on 27.11.2007 and the Stamp of the Sub-Registrar office exhibit the presentation of .....

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