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TMI Blog2022 (10) TMI 109X X X X Extracts X X X X X X X X Extracts X X X X ..... ceipts, ready recokner ,and calculation sheet of value as of flat with ready recknor value placed and the bank statements highlighting payments received from flat owners was filed first time before the Honble Tribunal as per the certificate of the assessee. Whereas the Pr.CIT has observed that the Bank statement reflecting payments received from the flats was not produced by the assessee in the revision proceedings. So it is clear that the A.O. has never verified the payments received from the flats.We find the A.O has called for the information, but there is no examination and verification of the facts or findings by the A.O on the applicability of provisions U/s 43CA of the Act. Accordingly, We do not find infirmity in the order of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed u/s. 263 of the Act, 1961 for AY 2015 - 16 is erroneous, without jurisdiction, illegal, void-ab-initio and devoid of the fact that the alleged original assessment order u/s. 143(3) for AY 2015 - 16 has ever been properly served on assesseee. 2. That the impugned order dated 18/03/2020 issued u/s. 263 of the Act, 1961 is based on mere change of opinion and ignorance of fact that all the documentary evidences for issue raised in notice under section 263 were duty submitted during original assessment proceedings and the same are adjudicated by Assessing Officer before passing order u/s. 143(3) of the Act, 1961. 3. That the appellant craves, leave to add, alter, amend or vary and/or withdraw any or all of the aforesaid grounds of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the order passed by the A.O. is erroneous and prejudicial to the interest of the revenue and issued notice under Section 263 of the Act. In-compliance to notice, the Ld. AR of the assessee appeared and filed details by letter dated 04.02.2019 along with the booking receipts, agreement copies, details of ready reckoner of the properties dealt at page 2 Para 3 of the order read as under: In respect of the properties under consideration for the Scrutiny your assessee had made the booking of said properties in the year 2012. At the time of booking the flat, fair market value as per ready reckoner of 2012 was considered. But due to unavoidable situations the parties under scrutiny of properties got them self registered in the year 2014. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nble Tribunal. 5. At the time of hearing the Ld. AR submitted that the Pr.CIT has erred in treating the assessment order passed under Section 143(3) of the Act as erroneous and prejudicial interest of the Revenue overlooking the facts that the case was selected for limited scrutiny and the A.O has called for the information and the assessee has filed the details and there is proper compliance to the notices. Further, the assessee has substantiated the details /information with the vital evidences. The Ld.AR has supported the submissions with the factual paper book and judicial decisions. Per Contra, the Ld. DR supported the order of the Pr.CIT. 6. We heard the rival submissions and perused the material available on record. The Ld.AR c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the details with reference to difference in registration details only. 7. When a query was raised to the Ld. AR that whether the AO has raised this point with respect to applicability of provisions of section 43CA of the Act in the course of assessment proceedings, the Ld AR submitted that since the AO has issued notice 142(1) of the Act and the assesseee has complied with the directions with substantial material information and which covers the disputed issue also.The Ld.AR emphasized on the details submitted by the assesse before the Pr.CIT on 4-12-2019 which includes agreement copies, booking receipts, ready recokner ,and calculation sheet of value as of flat with ready recknor value placed at page 92 and the bank statements highligh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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