9911796707
TMI Blog2023 (8) TMI 1515X X X X Extracts X X X X X X X X Extracts X X X X ..... was much below the minimum income liable to tax in India therefore, she claims that she was not liable to file any Income Tax Return in India. HELD THAT:- Apparently the addition is made by Ld. Assessing Officer due to alleged difference in date(s) which assessee claims was inadvertent typographical mistake. Ld. AO has fallen in error to say that same is ex post facto explanation when something comes from assessee by way of explanation of an error of fact and not an excuse of conduct, it cannot be left of out of consideration on ground of ex post facto explanation . Further, before the Bench, Ld. AR sufficiently established that the loan transaction by RTGS is the same as per loan confirmation, copy of Ms. Shalini Gupta's account in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act. As for the present assessment year 2015-16 also her income in India comprised of interest income amounting to Rs. 968/- only which was much below the minimum income liable to tax in India therefore, she claims that she was not liable to file any Income Tax Return in India. 2.1 The background of the issue is that the assessee purchased a property bearing no. A-103, Sector 15 Gurgaon Haryana-122200 from Unitech Ltd. for a total sale consideration of Rs. 6,58,96,000/- out of which a sum of Rs. 5,46,71,539/- was invested in the present FY. Out of the total payment of Rs. 5,46,71,539/- made during the year to Unitech Ltd., the Assessing Officer has added a sum of Rs. 74,12,618/- as unexplained investment u/s 69 of the Income Tax Act allegi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e confirmation is same i.e. JKAH14132025 as mentioned in the bank statement of M/s. Ace Engineering Infratech (India) Pvt. Ltd. Further, even the cheque number of the aforesaid RTGS transaction is same 56737. (page no. 5 7 of the paper book). 3. Ld. DRP has taken into consideration the remand report wherein the statement of M/s. Ace Engineering Infratech (India) Pvt. Ltd. was alleged to be without evidence and ld. DRP observed in para 4.1.4 as follows:- 4.1.4 The Panel has carefully considered the rival averments as above. The Panel takes a note of AO s observation made in the remand report as discussed at para 4.1.3.1 above that the assessee has been given enough opportunity of being heard and has not been prevented by sufficient cause to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing/serving notice dated 31.03.2021 u/s 148 of the Income Tax Act has not complied with the procedure laid down under Chapter XIV of the Act making the reassessment proceedings illegal, invalid, void-ab-initio. 4. Without prejudice to the above the Ld. Assessing Officer has erred in law and on facts in adding a sum of Rs. 74,12,618/- u/s 69 of the Income Tax Act alleging that the sources of loan of Rs. 74,12,618/- out of the total loan amount of Rs. 1,84,12,618/- received by assessee from Ace Engineering Infratech (I) Pvt Ltd to invest in her house property at A-103, Sector 15, Gurgaon, Haryana-122000 purchased from M/S Unitech Ltd, remains unexplained, which is arbitrary, unjustified, illegal, invalid and bad-in-law. 5. The Ld. Assessing O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... day before on 11-04-2014 which is arbitrary, unjustified, illegal, and bad in law. 8. The Ld. Assessing Officer erred in law and on facts in initiating penalty proceedings u/s 271(1)(C) 271 F of the Income Tax Act. 9. That the above grounds of appeal are without prejudice to one another. 10. That the appellant prays for the liberty to raise, such further grounds of appeal arising from the facts of the case, as may enable the appellant to seek justice and to assist Your Honours in upholding the majesty of law. 5. Apparently the addition is made by Ld. Assessing Officer due to alleged difference in date(s) which assessee claims was inadvertent typographical mistake. Ld. AO has fallen in error to say that same is ex post facto explanation when ..... X X X X Extracts X X X X X X X X Extracts X X X X
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