9911796707
TMI Blog2025 (4) TMI 782X X X X Extracts X X X X X X X X Extracts X X X X ..... The assessee has filed this appeal challenging the order dt.29-08-2024 passed by the Ld. Commissioner of Income Tax (Appeals)-55, Mumbai ['Ld.CIT(A)'] and it relates to AY. 2016-17. The assessee is aggrieved by the decision of the Ld.CIT(A) in confirming the demand raised by the AO u/s.201 of the Income Tax Act, 1961 ('the Act') and also the interest levied by the AO u/s. 201(1A) of the Act. 2. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... est raised u/s. 201/201(1A) of the Act before the Ld.CIT(A), but the said appeal came to be dismissed by the First Appellate Authority (FAA). Hence, the assessee filed this appeal before the Tribunal. 3. The Ld.AR submitted that the seller of the property, Shri Shabbir Sarafali Golawala has filed his return of income for the year under consideration, wherein he has declared capital loss arising f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thers and also the decision rendered by the Jabalpur Bench of the Tribunal in the case of National Highway Authority of India vs. ACIT, 49 taxmann.com 32 (Jabalpur-Trib). 4. The Ld.DR, on the contrary, submitted that the assessee can take the benefit of proviso to section 201(1) of the Act only if he furnishes a certificate obtained from an Accountant to the effect that the conditions prescribed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Act will be available to the assessee only if the conditions mentioned therein are satisfied. In the instant case, the assessee did not file all the relevant document before the AO in order to demonstrate that he has complied with all the conditions prescribed in the first proviso to sec.201(1) of the Act. According to the Ld A.R, the details relating to income tax return filed by the seller ..... X X X X Extracts X X X X X X X X Extracts X X X X
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