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TMI Blog2022 (12) TMI 882X X X X Extracts X X X X X X X X Extracts X X X X ..... espect of expenses - HELD THAT:- Upon careful consideration and going through the assessment order ld. CIT (A) s order, we find that the impugned additions and disallowances are made on cogent footings. Nothing has been brought to our notice to controvert the finding of AO and CIT (A). Hence, we do not find any infirmity in the order of ld. CIT (A) and we affirm the same. As we find that the impugned additions and disallowances are made on cogent footings. Nothing has been brought to our notice to controvert the finding of AO and ld. CIT (A). Hence, we do not find any infirmity in the order of ld. CIT (A) and we affirm the same. Appeal filed by the assessee stands dismissed. - ITA No. 5163/Del./2019 - - - Dated:- 19-12-2022 - SHRI S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t is submitted that the sale deed with respect to property in dispute i.e. property A- 3/19, Paschim Vihar, New Delhi was executed in the A.Y 2014- 15 but at the time of making the payment purchaser did not handed over the payment of Rs.89,00,000/- as our papers were not complete and they were lying in the custody of bank. The same transaction was completed in the month of April of next financial year that uis why we have shown capital gains in the next year. So there was no malafide intention or ulterior motive in that. It is submitted that the cheque mentioned in the sale deed was never encashed a new cheque was given as consideration which was encashed on 28.04.2014 (next financial year). It is further submitted that the very same ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Rs.16,39,019/-. The appellant has not produced original receipts nor the copy of purchase deed evidencing the schedule of payments for the purchase of the property. The appellant has sold the property at Rs.1,27,00,131/- and furnished evidences of Rs.27,25,290/- only. Hence AO has correctly calculated the short term capital gain at Rs.99,74,841/- and added difference of Rs.18,79,659/- in the taxable income of the appellant. The AO has allowed the credit of short term capital gain at Rs.80,95,182/- disclosed by the appellant. Hence addition made by the AO at Rs.18,79,659/- is hereby confirmed. 5. Apropos issue of addition of Rs.20,51,232/- made by the AO on account of sale of Nangloi property : on this issue, AO noted that assessee h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntioned by the AO in the order that as per the provisions of section 45, any profits or gain arising from the transfer of capital asset effected in the previous year shall be deemed to the income of the previous year in which transfer took place. As the property is sold during the year under consideration, AO has added long term capital gain at Rs.28,24,895/- in the taxable income of the assessee. 8. Upon assessee s appeal, ld. CIT (A) held as under :- I have considered the facts of the case, finding of the AO and submissions of the appellant. Appellant has sold the property during the year under consideration and sale deed was executed during the financial year 2013-14. As per the provision of section 45 any profits or gain arisin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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