9911796707
TMI Blog2024 (3) TMI 305X X X X Extracts X X X X X X X X Extracts X X X X ..... nt is being added to the income of the assessee - HELD THAT:- Since the said property was never owned by the assessee, it was not eligible /entitled to keep the money having been received by way of earnest money part sale consideration in respect of the said property from the prospective buyer. The assessee has also filed an affidavit before the ld. CIT(A) stating that after having received of the aforesaid payment as an advance, the said payment was handed over to one of the Owner i.e. Mr. Aseem Doomra, as Mr. Narender Kapoor was in Auckland (Newzealand).The assessee was not the real beneficiary and he had acted like a facilitator only. Since the money which was received by it from M/s Kritunairu, actually belonged to Mr. Narender Kapoor M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... disposing off the basic/ primary objections raised by the assessee; b) it was neither the case of the learned AO that any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, belonged to the assessee nor the case of the learned AO that any books of account or documents, seized or requisitioned, pertained to the assessee nor the case of the learned AO that any information contained in the books of account or documents, seized or requisitioned, related to the assessee; c) as per the Satisfaction provided to the assessee, the proceedings u/s 153C were required to make thorough scrutiny in order to protect the interest of the revenue. 3. On the peculiar facts of the case and in law, the addition of Rs. 2500000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... had not received the money from Kritunairu Builders Developers Pvt Ltd., for self but had acknowledged the receipt of money on behalf of Sh. Narender Kapoor and Sh. Aseem Doomra (who were owing and possessing the property under reference) 6. On the peculiar facts of the case and in law, the addition of Rs. 2500000/- u/s 56 of the I.T. Act 1961 made by the learned AO and sustained by the learned CIT(A), deserves not to be upheld because the assessee was not the owner of the property under reference and also because the assessee had not forfeited such amount of Rs. 2500000/-. 7. On the peculiar facts of the case and in law, the addition of Rs. 2500000/- u/s 56 of the I.T. Act 1961 made by the learned AO and sustained by the learned CIT(A), de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cute the Sale Deed in respect of the said property, in his absence, in favour of the ultimate buyer. 5. M/s Kritunairu Builders Developers Pvt. Ltd. made payment of Rs. 25,00,000/- on 30.03.2019 and Rs. 19,00,000/- on 04.06.2019 and taken signatures of Mr. Ashish Gupta of M/s Sai Samarpan Realtors Pvt. Ltd. who was working on behalf of the owners as per the agreement dated 04.02.2019. The said agreement reads as under: THIS AGREEMENT is made at Delhi, on this 04/02/2019 between M/s SAI SAMARPAN REALTORS PVT. LTD. having its Regd. office at 48, Chawla Complex 1/A215, SHAKARPUR DELHI-92 through its Director MR. ASHISH GUPTA hereinafter called the first party (on behalf of 1. SH. NARENDER KAPOOR AND 2. ASEEM DOOMRA). 6. This agreement depictin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppeal order, the ld. CIT(A) had mentioned in para 15, the Ashish Gupta states that the money so received was handed over to Shri Aseem Doomra.... . Since the said property was never owned by the assessee, it was not eligible /entitled to keep the money having been received by way of earnest money part sale consideration in respect of the said property from the prospective buyer. The assessee has also filed an affidavit before the ld. CIT(A) stating that after having received of the aforesaid payment as an advance, the said payment was handed over to one of the Owner i.e. Mr. Aseem Doomra, as Mr. Narender Kapoor was in Auckland (Newzealand). The assessee was not the real beneficiary and he had acted like a facilitator only. Since the money w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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