9911796707
TMI Blog2023 (12) TMI 392X X X X Extracts X X X X X X X X Extracts X X X X ..... to accept that the advance received by assessee is proved appropriately and, therefore, addition made by AO deserves to be deleted. Decided in favour of assessee. - SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER For the Assessee by Shri Yash Kukreja, CA, Shri Hitesh Chimnani, CA For the Revenue by Shri P.K. Mishra, CIT DR ORDER PER B.M. BIYANI, A.M.: Feeling aggrieved by appeal-order dated 21.10.2016 passed by learned Commissioner of Income-Tax (Appeals)-3, Bhopal [ Ld. CIT(A) ], which in turn arises out of assessment-order dated 10.03.2015 passed by learned Dy. CIT, Central-1, Bhopal [ Ld. AO ] u/s 143(3) of Income-tax Act, 1961 [ the Act ] for Assessment-Year [ AY ] 2012-13 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... confirmation. As a result the addition of Rs. 3,78,946/- is confirmed. The remaining addition out of the total addition of Rs. 52,40,362/- i.e. Rs. 48,61,416/- is therefore deleted. 4. Aggrieved by order of CIT(A) to the extent of sustaining addition of Rs. 3,78,946/-, the assessee has come in this appeal before us. 5. The assessee has filed an application dated 08.08.2023 under Rule 29 of ITAT Rules, 1963 and prayed to admit and consider following additional evidences filed in Paper-Book: (i) Booking letter of Plots (ii) Written-request for cancellation of booking (iii) Copy of bank statement of Shri Amit Ahuja, director of assessee-company from which the entire amount received from Shri Praveen Kumar Sharma was r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the parties were required to pay a sum of Rs. 4,963 + 1,20,942 + 2,53,068 on 17.03.2012, 28.03.2012 and 30.03.2012 falling within the previous year 2011-12 relevant to AY 2012-13 under consideration and rest of the payments were to be made in subsequent financial years. Accordingly, the parties made a total payment of Rs. 4,936 + 1,20,942 + 2,53,068, aggregating to Rs. 3,78,946/- upto 30.03.2012. Thereafter, in next year, the parties made further payments to assessee. This way, the total payment made by Mr. Praveen Kumar Sharma was Rs. 10,08,158/- and made by Mr. Charlie Singh was Rs. 15,38,177/-; both aggregate to Rs. 25,46,335/-. Subsequently, those parties requested for cancellation of booking since they were unable to make remainin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the evidences filed by the assessee before us. After a careful consideration, there appears merit in the submission of Ld. AR that the assessee has received advance of Rs. 3,78,946/- towards booking of plot from Shri Praveen Kumar Sharma and Shri Charlie Singh. In fact, Ld. AR has also showed that the assessee received further sums in subsequent financial year as well. That apart, the whole money (including the impugned sum of Rs. 3,78,946/-) was refunded through banking channel via bank a/c of director of assessee-company. The evidences placed by assessee in terms of Rule 29 to demonstrate these factual aspects are taken as authentic evidences and relying upon the same and having considered the explanations made by Ld. AR, we are inclined ..... X X X X Extracts X X X X X X X X Extracts X X X X
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