9911796707
TMI Blog2024 (8) TMI 803X X X X Extracts X X X X X X X X Extracts X X X X ..... is submissions / arguments as to the issue raised hereinabove but awards cost of Rs. 2,000/- and the same may be deposited in the Prime Minister Relief Fund and copy of the same shall be submitted to the CIT (A) for proof and thus the appeal of the assessee is restored to the file of the CIT(A) to decide it afresh by providing one more opportunity of hearing, however, the assessee will not seek any adjournment on frivolous ground and remain cooperative during the course of proceedings. Thus the appeal of the assessee is allowed for statistical purposes. - SHRI SANDEEP GOSAIN, JM DR MITHA LAL MEENA, AM For the Appellant : Shri Deepak Sharma, CA For the Respondent : Mrs. Monisha Choudhary, Addl CIT-DR ORDER PER: SANDEEP GOSAIN, JM This appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6(2)(vii) of the act. The addition so made is contrary to the law as well as facts and deserves to be deleted in full. 2.1 Brief facts of the case are that the assessee had filed his return of income for the assessment year 2014-15 on 30-03-2015 declaring total income of Rs. 4,03,440/-. The return was processed u/s 143(1)(a) of the Act. The case of the assessee was selected for Limited Scrutiny and notice u/s 143(2) of the Act was issued on 28-08-2015. Notice u/s 142(1) of the Act was issued alongwith questionnaire on 06-01-2016. In response to these notices, Shri Dinesh Sharma, CA attended from time to time and submitted necessary details and explanation before the AO who discussed the case of the assessee. It is noted that the assessee is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... idered the reply but it noticed that the seller is not included in the person referred in definition of relative as per Explanation (e)of Section 56(2)(vii). Thus considering the facts and provision of Section 56(2)(vii) difference amount of purchase consideration and value adopted by the Sub-registrar of Rs. 3642402/- (4742404 110000) is treated as income from other source and added to the total income of the assessee. As per provision of Section 56(2)(vii), the assessee was to include to difference amount of Rs. 36,42,404/- in his original return but the assessee has not included the same . Therefore, assessee has furnished inaccurate particulars of his income, thus penalty proceedings u/s 271(1) is separately initiated. 2.2 In first appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... collecting relevant documents and information to prepare the submissions and argue the case. 2.4 On the other hand, the ld. DR supported the order of the ld.CIT(A). 2.5 We have heard both the parties and perused the materials available on record. The Bench noticed from the ld CIT(A) s order wherein he treated the appeal of the assessee as infructuous being filed on 20-12-2016. The submission of the ld. AR of the assessee is that the assessee is deprived off to advance the submissions before the ld. CIT(A) to contest the case and thus he may be provided one more opportunity to submit his arguments/ submissions to settle the issue in question before the ld. CIT(A). The bench considered the submissions of the ld. AR of the assessee to submit h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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