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TMI Blog2022 (12) TMI 1119X X X X Extracts X X X X X X X X Extracts X X X X ..... s relating to the transaction on 15.09.2006 and 16.10.2006 and produce the copies of the bank statements, so as the Assessing officer can invoke second proviso to Section 50C of the Act. Needless to state, the assessee should cooperate with the Assessing Officer by producing the relevant bank statements, so as the A.O. can pass a fresh assessment order. For this reason, the appeal is allowed for statistical purposes. - ITA No. 307/Rjt/2017 - - - Dated:- 21-12-2022 - Shri Waseem Ahmed, Accountant Member And Shri T.R. Senthil Kumar, Judicial Member For the Appellant : Written Submission For the Respondent : Shri Shri B.D. Gupta, Sr.D.R. ORDER PER : T.R. SENTHIL KUMAR, JUDICIAL MEMBER:- This appeal is filed by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ith the purchaser of the shops and received the following payments: 1. Rs. 50,000/- Vide cheque no.55347 dated 15.09.2006 of Central Bank Of India. 2. Rs. 50,000/- Vide Cheque no. 55348 dated 16.10.2006 of Central Bank Of India. 3. Rs.51,000/- Vide cheque no. 731872 dated 20.06.2011 of Central Bank Rs.1,51,000/- Of India. 2.2. The assessee claimed that from the 2nd page of the Banakhat, possession of the two shops were already given in 2006 itself. However registration on the sale deed has been made on 21.06.2011. Since all the payments received by cheque payments, the Jantri value as on 2006 is to be adopted not that of the 2011. 2.3. The Assessing Officer over ruled the above objection and adopted the sale value at Rs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... written submission by Authorized Representative Mr. D.R. Adhia filed before us. 5. The Ld. D.R. Mr. B.D. Gupta appearing for the Revenue submitted that pursuant to the direction of this Tribunal, he got information from the Assessing Officer that bank statements reflecting the two sale transactions of Rs. 50,000/- each received by the assessee on 15.09.2006 and 16.10.2006 are not available on record. 5.1. In view of the above, the Ld. D.R. submitted that invoking second proviso to Section 50C of the Act, the assessee may be directed to furnish the bank accounts reflecting the above two transactions, to enable the Assessing Officer to apply second proviso to Section 50C of the Act by remanding the matter to the A.O. 6. We have give ..... X X X X Extracts X X X X X X X X Extracts X X X X
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