2025 (2) TMI 163

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..... gains which is the total consideration of the property under consideration. Thus, short-term capital gain is confirmed. "Unexplained Cash Credits" - assessee did not file any details/ evidence to prove the sources of the Credits in her account - HELD THAT:- CIT(A) correctly observed that it will meet the ends of the justice if the GP applied by the AO on the total turnover @1.5% is also applied on the total cash deposits of Rs. 82,84,580/-, being sale proceeds which comes at Rs. 1,24,269/-. Accordingly, the addition of Rs. 1,24,269 is deleted. Decided against revenue.
Shri S. Rifaur Rahman, Accountant Member And Shri Sudhir Pareek, Judicial Member For the Appellant : Ms. Harpreet Kaur, Sr. Dr For the Respondent : None ORDER PER SUD .....

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..... various banks and Kanodia Enterprises Pvt. Ltd. 3. On the facts and circumstances of the case & in law, the Ld. CIT(A) is not justified restricting the addition of Rs. 82,84,580/- to Rs. 1,24,269/ made on account unexplained cash deposited in bank accounts by holding the unexplained cash deposit sale proceeds and applying the GP rate 1.5% on such cash deposit ignoring the fact the assessee could not furnish the cogent evidence that the cash deposited in the accounts was out of sale proceeds. 4. On the facts and circumstances of the case & in law, the Ld. CIT(A) is not just deleting the disallowance of expenses out of expenses of Rs. 7,23,980/- u/s 14 Act ignoring the fact that the assessee could not prove the business expediency in of .....

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..... es from undisclosed sources and short-term capital gains of Rs. 1,10,00,000/- and in this ground the learned CIT(A) observed as under :- "During the year under consideration i.e. AY 2012-13, the appellant purchased Property No. C-468, Saraswati Vihar, Pitampura for Rs. 64,00,000/- on 15th June 201 and sold it for Rs 1,02,50,000/- on 25th Jan 2012. These Transactions in properties were also duly shown by the appellant & the Ld. AR has provided the copies Purchase & Sale of the Property. On perusal of the written submissions an records it is observed that the appellant has not shown the short-term capital gain on purchase & sale of the above property which comes at F 38,50,000/- (1,02,50,000 64,00,000). The Ld. AO has made addition account .....

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