2025 (7) TMI 1361 - AT - Income Tax

ITAT deletes Rs. 14L addition for unexplained property investment, confirms Rs. 1.87L self-contribution addition

ITAT DELHI deleted the addition of Rs. 14,00,000 relating to unexplained investment in immovable property, accepting the assessee's evidence of ... Unexplained investment in immovable property - HELD THAT:- As noticed that she had claimed three related parties namely, Kausar Hayat, Neelofer and Rashid who had contributed which was duly supported by their respective regular Income Tax Returns and the contribution received via banking channel. It is made clear that all the said cogent supportive evidence duly forms part of the paper book in the instant case file. That being the case, the tribunal finds no reason to sustain the impugned addition of Rs. 14,00,000/- which is hereby directed to be deleted in very terms. Learned counsel fairly submits that the assessee no more wishes to challenge the CIT(A)'s action confirming the self-contribution addition of Rs. 1,87,000/-. Confirmed accordingly. Assessee's appeal is partly allowed. The Appellate Tribunal (ITAT Delhi) in the appeal for Assessment Year 2013-14 against the CIT(A)/NFAC order dated 25.09.2024 under section 147 of the Income Tax Act, 1961, addressed the issue of unexplained investment in immovable property dated 13.03.2013. The assessee claimed contributions totaling Rs. 14,00,000 from three related parties-Kausar Hayat, Neelofer, and Rashid-supported by their regular Income Tax Returns and banking evidence, all duly part of the case record. The Tribunal held that 'no reason to sustain the impugned addition of Rs. 14,00,000/-' existed and directed its deletion. The assessee did not contest the confirmed self-contribution addition of Rs. 1,87,000, which was upheld. Consequently, the appeal was partly allowed.