9911796707
TMI Blog2024 (5) TMI 1121X X X X Extracts X X X X X X X X Extracts X X X X ..... ted from the order of ld. Dy. Commissioner of Income Tax, Central Circle-2, Udaipur, [in brevity 'the AO'] order passed u/s 153A r.w.s. 143(3) of the Act. 2. The assessee has taken the following ground: "1. Under the facts & circumstances and in law, the order dated 12.12.2017 passed by the CIT(A) is perverse, arbitrary and is bad in law. 2. Under the facts & circumstances of the case and in law , the Ld. CIT (A) has erred in upholding the Assessment Order dated 19.03.2015 passed by the Ld. Assessing Officer u/s 143(3)/144 of the Act. 3. Under the facts & circumstances of the case and in law , the Ld. CIT (A) has erred in upholding the action of the Ld. AO in confirming addition to the extent of Rs 2,07,82,092/- in respect of the f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nstruction Expenses jointly with Mr. Ahmed Noor paid through cheques and cash withdrawn from Bank 2,78,81,292/- 7 Furniture Purchase at House 15,00,000/- Total Rs 3,38,63,902/- The assessee filed return in response to notice u/s 153A on declaring total income of Rs 93,00,400 only and variance between amount surrendered during Search and filling return is as under: S. No Particulars Surrender Ground taken at the time of Return filing Amount Amount for offered 1 Cash Found at the Residence of Appellant Balance out of Cash withdrawn from Bank for meeting business needs kept at home 1,11,560 nil 2 Cash Found at the office of M/s Kohinoor Buildhome Balance out of Cash withdrawn from Bank for meeting business needs ke ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rch operation, hence cash balance on basis of such cash flow and memorandum cash book cannot be relied. Further assessee himself admitted that he invested these amounts from his out of book income during search operation, statement recorded was with free consent, hence the asssessee cannot be allowed to travel back from his own admission and with these reason only he summarily rejected explanations and books and other documents without examining and conducting further inquiry. Even on the chance of remand report, ld. AO again took same stand and try to justify the same-on-same footing. The ld, CIT (A) held that indisputably appellant was not maintaining books of account, and none of them were found at the time of search. The appellant pre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts in disputes. 4. The ld. AR filed the written submissions which are kept in the record. As per grounds of the appeal, first, the ld. AR argued the ground no. 3 a) and b) which are as follows: Ground no. 3 (a) and (b): The addition was made on the basis of the cash received from Mr. Suresh Dangi for termination of agreement of purchase of the property. Previously, the assessee entered into an agreement with Mr. Suresh Dangi for purchase of 4 plots a sum of Rs. 50,56,050/-. The assessee paid the cash Rs. 30,56,050/- on dated 20.11.2012 and rest amount Rs. 20 lacs would be for 4 postdated cheques. Due to the search the cheques were not honoured and assessee was unable to paid the balance amount. The seller Mr. Suresh Dangi executed the s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Dangi for purchase of plots, in my view the explanation of the appellant's A/R is not acceptable. I have perused the copy of sale agreement dated 20/11/2012 made between the seller Shri Suresh Dangi and the appellant. As per the agreement the seller agreed to sell 4 plots of land in Savina admeasuring 5466 sq.ft. for Rs. 50,56.050/- (@ Rs. 925/- per sq. ft. Para 5 of the agreement clearly states that the seller has received the whole sale value of the land at page 145 of paper book as under:- Rs. 20,00,000/- through 4 cheques of Rs, 5 lacs each, the same is verifiable from the Bank statement of the appellant. Rs. 30,56,050/- in cash Para 12 of the agreement at page 147 of paper book states that the seller will hand over the sale deed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arding co- ownership and the source of payment alleged to have been paid by the said person is available. Even the bank account of Shri Ahmed Noor practically operated by the appellant. Shri Ahmed Noor is stated tc be residing abroad. Looking to the entire facts and circumstances of the case the explanation offered by the appellant the amount of Rs. 1,57,51,042/- cannot be accepted. Addition to this extent is confirmed." Ground No. 3 (c) 6. During search, the assessee declared Rs. 28,61,454/- related to details expenditure, the assessee claimed expenses Rs. 19.75,000/- on account of disputed agreement cancellation which is in dispute. The ld. AR claimed that the assessee earned surrendered amount Rs. 1,22,30,250/- as his gross receipt f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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