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TMI Blog2022 (8) TMI 804X X X X Extracts X X X X X X X X Extracts X X X X ..... h the case after issuance of notices under Section 143(2) 142(1) of the Income Tax Act along with questionnaire to the assessee. The least that the AO was called upon to do was to require the assessee to make good his claim that the amount was sourced from Kulwant Kaur Kukreja Educational Society. The violation of Section 13(1) (c) of the Income Tax Act also required examination after examination of the first aspect as aforesaid. We also fail to appreciate / understand as to what is the reason for the assessee to avoid the inquiry and scrutiny with regard to the source of funds through which the land was purchased by the assessee. We, therefore, dismiss this appeal and we also direct the Principal Commissioner of Income Tax, Dehr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e-filing portal on 18.09.2017. The AO also issued notice under Section 142(1) of the I.T. Act along with a questionnaire dated 09.02.2018 and 19.07.2018 which were duly served on the assessee. After considering the reply filed by the assessee, the AO completed the assessment accepting the returned income of Rs.10,02,000/-. 4. Subsequently, the learned PCIT perused the record and noted and, was of the view, that the order passed by the AO was erroneous and prejudicial to the interest of the revenue, since, the AO has not examined the issue with regard to the source of investment made by the assessee to the tune of Rs.8,64,15,000/- whereby the assessee had purchased properties in his name. 5. It was claimed by the assessee verbally befo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... provided any justification against violation of the provision of section 13(1) of I.T. Act which prohibits any trust/society from diverting its income directly or indirectly for the benefit of any person referred to in Sub-Section (3). Further, the assessee has not submitted the bank statements of either himself or the society to specify the nature of transaction made for the purchase of property and the source thereof. Moreover, the assessee has neither submitted any document stating that the property has been subsequently transferred to the society nor any statement of the current ownership of the property and status thereof in support of his claim that the property belongs to the society. During the assessment proceedings, the A.O. had n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 24.06.2015 4,73,00,000/- 24.06.2015 3,50,00,000/- 8. However, it is surprising to note that neither the AO has called for the bank account from which such huge amounts of more than Rs.8 crores has been paid to the seller nor the assessee has filed any document before us that he has filed the bank account before the AO from which the payments were made. The submissions of Id. Counsel for the assessee that he has verbally explained the issue to the AO during the course of assessment proceedings cannot be accepted as proper inquiry by the AO during the course of assessment proceedings in absence of any query raised by the AO to this effect. So f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee that the monies for purchase of the land amounting to Rs.8,64,15,000/- was sourced from the said society, however, the aspect of violation of Section 14(1) (c) of the Income Tax Act was not raised by the AO, while completing the assessment of the aforesaid society. 12. We have perused the record and heard learned counsel for the appellant and, we are of the view that no substantial question of law arises for our consideration in the present appeal. The order passed by the PCIT under Section 263 of the Income Tax Act, as well as the order passed by the Tribunal are completely justified in the facts of the case. In fact, we are shocked to see the manner in which the AO dealt with the case after issuance of notices under Section 143(2) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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