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TMI Blog2023 (7) TMI 174X X X X Extracts X X X X X X X X Extracts X X X X ..... , the claim of assessee is for the sake of claim only. Addition made by lower-authorities is mandated by section 56(2)(vii)(b) and in absence of a valid explanation by assessee, the same has to be made, there is no escape route. It is further observed that the assessee is not representing his case before us despite several opportunities. Therefore also, in absence of any assistance coming from assessee, we do not find any valid reason to interfere with the findings of lower authorities. Decided against assessee. - ITA No. 420/Ind/2018 - - - Dated:- 3-7-2023 - Shri Vijay Pal Rao, Judicial Member And Shri B.M. Biyani, Accountant Member For the Assessee : None For the Revenue : Shri Ashish Porwal, Sr. DR ORDER PE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have already been given, no further opportunity can be given now. Ld. DR representing the Revenue was ready and willing to argue the case. Therefore, the hearing is proceeded and the appeal is decided ex-parte qua assessee based on material held on record and after considering the submission of Ld. DR. 3. Ld. DR drew our attention to assessment order and pointed out that the return filed by the assessee was selected for scrutiny for the reason of Large investment in property (AIR) as compared to total income . Thereafter, during scrutiny-proceeding, Ld. AO found that the assessee alongwith his wife Smt. Neha Sehgal jointly purchased an immovable property for Rs. 23,60,950/- although the valuation done by Stamps Authority was Rs. 85,00, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee and did not grant any relief, which he has rightly done. 5. Ld. DR submitted that the impugned addition made/upheld by lower authorities is a statutory addition mandated by section 56(2)(vii)(b) and the assessee is making a futile attempt to run away from taxation without having any justifiable explanation to substantiate as to why the stamps valuation is not proper or fair. 6. We have considered submissions of Ld. DR and also perused the orders of lower-authorities. On a careful consideration, we firstly find that the assessee has not made any explanation to AO when called upon to explain the difference in purchase price and stamps authority valuation. Even the assessee has not disputed the valuation done by stamps authority on ..... X X X X Extracts X X X X X X X X Extracts X X X X
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