Mahender Singh, Meerut V. ITO, Noida

ITA 2704/DEL/2017

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 4534 (ITAT-DELHI)
• Duration Of Justice: 4 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-09-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2008-2009
• Appeal Filed On: 02-05-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: T VASANTHAN
• Keywords: Unexplained investment; Income from undisclosed sources

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES SMC : DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER ITA.NO.2704/DEL./2017 ASSESSMENT YEAR 2008-2009 SHRI MAHENDRA SINGH, VILLAGE KHADI, TAHSIL DADRI, GAUTAMBUDH NAGAR,U.P. PAN ASLPS4159D VS. THE INCOME TAX OFFICER, WARD-2(2), NOIDA. (APPELLANT) (RESPONDENT) FOR ASSESSEE : - NONE - FOR REVENUE : SHRI T. VASANTHAN, SR. D.R. DATE OF HEARING : 05.09.2017 DATE OF PRONOUNCEMENT : 05 .09.2017 ORDER THIS APPEAL BY ASSESSEE HAS BEEN DIRECTED AGAINST THE ORDER OF THE LD. CIT(A)-1, NOIDA, DATED 24 TH FEBRUARY, 2017, FOR A.Y. 2008-2009. 2. BRIEFLY THE FACTS OF THE CASE ARE THAT THE A.O. PASSED EXPARTE ORDER UNDER SECTION 144/147 OF THE I.T. ACT , 1961, DETERMINING THE TOTAL INCOME OF ASSESSEE AT RS.30,0 5,000 ON ACCOUNT OF INVESTMENT MADE BY ASSESSEE IN PURCHASE OF AGRIC ULTURAL LAND. SINCE THE ASSESSEE FAILED TO EXPLAIN THE SOURCE OF THE INVESTMENT, THE A.O. TREATED THE SAME AS UNACCOUNTED INCOME OF THE ASSESSEE. 2 ITA.NO.2704/DEL./2017 SHRI MAHENDRA SINGH, GAUTAMBUDH NAGAR, U.P. ASSESSEE SUBMITTED BEFORE THE LD. CIT(A) THAT LAND WAS PURCHASED BY ASSESSEE IN PARTNERSHIP WITH ONE MORE PERSON AND HE WAS HALF OWNER OF THE LAND SO PURCHASED. IT WAS FURTHER CLAIMED TH AT THE VALUE OF THE LAND WAS ONLY RS.14 LAKHS AND NOT RS.30,05,000 AS H AS BEEN HELD BY THE A.O. THE ASSESSEE EVEN FAILED TO EXPLAIN THE SO URCE OF RS.7 LAKHS BEFORE LD. CIT(A). THE ASSESSEE FILED COPY OF THE S ALE DEED WITH REGARD TO SUBJECT LAND AND THE DEED HAS RECORDED THE VALUE OF THE PROPERTY OF RS.30,05,000 ON THE FIRST PAGE OF THE SALE DEED. THE STAMP DUTY PAID IS ALSO RECORDED AT RS.2,40,400. THE ADVANCE P AID BY THE PURCHASER IS RS.14 LAKHS. THE DEED HOWEVER RECORDS THAT LAND IS PURCHASED BY ASSESSEE AND ONE SHRI KRISHNA GOPAL BA NSAL. THE LD. CIT(A), THEREFORE, DID NOT FIND ANY INFIRMITY IN TH E IMPUGNED ORDER OF THE A.O. RECORDING THE CONSIDERATION AT RS.30,05,00 0 FOR PURCHASE OF AGRICULTURAL LAND BY ASSESSEE AND OTHER PERSON. IN ADDITION, THE STAMP DUTY OF RS.2,40,400 IS ALSO PAID. THEREFORE, ADMITTEDLY, ASSESSEE AND HIS ASSOCIATES HAS MADE INVESTMENT IN PROPERTY FOR A SUM OF RS.32,45,400 IN WHICH ASSESSEE IS HALF OWNER . THE ASSESSEE FAILED TO OFFER ANY EXPLANATION REGARDING SOURCE OF HIS INVESTMENT OF RS.16,22,700. THE LD. CIT(A), THEREFORE, DIRECTED T O CONSIDER 3 ITA.NO.2704/DEL./2017 SHRI MAHENDRA SINGH, GAUTAMBUDH NAGAR, U.P. UNACCOUNTED INVESTMENT BY ASSESSEE FOR A SUM OF RS. 16,22,700 INSTEAD OF RS.30,05,000 DONE BY THE A.O. THE APPEAL WAS PARTLY ALLOWED. 3. NONE APPEARED ON BEHALF OF THE ASSESSEE DESPITE SERVICE OF THE NOTICE. IT IS, THEREFORE, CLEAR THAT ASSESSEE I S NO MORE INTERESTED IN PROSECUTING THE APPEAL. ASSESSEE DID NOT PRODUCE ANY EVIDENCE OF SOURCE OF INVESTMENT IN PURCHASE OF PROPERTY AND LD . CIT(A) ON THE BASIS OF THE SALE DEED HAS ALREADY GIVEN SUFFICIENT BENEFIT TO THE ASSESSEE BEING THE ASSESSEE HALF OWNER OF THE PROPE RTY IN QUESTION. IN THE ABSENCE OF ANY REPRESENTATION AND IN THE ABS ENCE OF ANY MATERIAL ON RECORD TO EXPLAIN SOURCE OF INVESTMENT, THERE IS NO MERIT IN THE APPEAL OF ASSESSEE AND THE SAME IS ACCORDING LY DISMISSED. 4. IN THE RESULT, APPEAL OF ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT. SD/- (BHAVNESH SAINI) JUDICIAL MEMBER DELHI, DATED 05 TH SEPTEMBER, 2017 VBP/- 4 ITA.NO.2704/DEL./2017 SHRI MAHENDRA SINGH, GAUTAMBUDH NAGAR, U.P. COPY TO 1. THE APPELLANT 2. THE RESPONDENT 3. CIT(A) CONCERNED 4. CIT CONCERNED 5. D.R. ITAT SMC BENCH, DELHI 6. GUARD FILE. // BY ORDER // ASST. REGISTRAR : ITAT DELHI BENCHES DELHI.