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TMI Blog2022 (12) TMI 289X X X X Extracts X X X X X X X X Extracts X X X X ..... pondent : Shri D. Hema Bhupal, JCIT ORDER PER V. DURGA RAO, JUDICIAL MEMBER: This appeal filed by the assessee is directed against the order of the ld. Commissioner of Income Tax (Appeals) 10, Chennai dated 05.03.2020 relevant to the assessment year 2011-12. 2. The appeal filed by the assessee is delayed by 639 days in filing the appeal before the Tribunal. The assessee has filed condonation p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an appeal before the ld. CIT(A). 4. Meanwhile, the ld. PCIT, after examining the records, passed revision order under section 263 of the Act dated 30.03.2016 by observing that the Assessing Officer has omitted to cause necessary enquiries and examine the facts of the issues raised in the show cause notice dated 21.03.2016 and the omissions are erroneous and prejudicial to the interest of Revenue. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the Tribunal. The ld. Counsel for the assessee has submitted that the assessee has sold the vacant land measuring 1 acre 18 cents (51401 sq. Ft.) situated at survey No. 56/57/1A1B, 57/1B, Jalladianpet, Sholinganallur Taluk along with his brother Shri R. Chandrasekaran on 18.11.2010 for a sale consideration of Rs. 1,54,21,000/-. In this entire transaction, the assessee's legal entitlement of 50% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ource of the additional amount of Rs. 52 lakhs found deposited in his savings bank account with Andhra Bank, Medavakkam. Since the assessee has not furnished any evidence for having received money from the purchaser Shri Parthasarathy, the Assessing Officer treated the cash deposit of Rs. 52 lakhs as unexplained cash deposit and brought to tax. On appeal, the ld. CIT(A) confirmed the addition. 8. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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