2013 (3) TMI 267

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.... the purchasers without furnishing the appellant copy of such information gathered behind his back and without any additional materials is valid in law?" 2. The assessee was the owner of a vacant plot measuring 4800 sq. ft. in Old R.S.No.466, New R.S.No.396/1A at Letchathoppu village, Thanjavur Taluk, Thanjavur District. The assessee sold the said property under sale deed dated 21.08.2000 for a sum of Rs.2,33,760/- to A.Helan and M.Meena, who were both partners of M/s.Marble World, a partnership firm at Thanjavur. 3. There was a survey in the premises of M/s.Marble Word. During the course of survey, a copy of sale agreement executed on 09.09.1999 between Asiya Basheer, wife of the assessee and the above said two purchasers (A.Helan an....

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....ng Officer completed the assessment under Section 143(3) on 28.03.2006 adopting the sale consideration at Rs.6,48,000/- as per the sale agreement dated 09.09.1999 and thereby adopting the long term capital gains at Rs.5,13,826/-. The Assessing Officer found that the said sale consideration was adopted as considered in the case of purchaser. 4. In the appeal filed by the assessee, the Commissioner of Income Tax (Appeals) confirmed the order of Assessing Officer by observing that the purchaser had admitted to have paid sale consideration of Rs.6,48,000/- for purchase of the property. In the further appeal filed by the assessee, the Tribunal highlighted three aspects and most importantly, the amount of Rs.6,48,000/- has been accepted as the....

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.... when the agreement dated 09.09.1999 showed the sale consideration of Rs.6,48,000/- and when the returns filed by the purchaser showing an amount of Rs.6,48,000/- has been accepted as purchaser's investment, the Authorities rightly calculated the capital gains taking the sale consideration at Rs.6,48,000/- and the order of Tribunal does not suffer from any legal infirmity. 7. Even though strenuous contentions were advanced disputing the agreement dated 09.09.1999, the assessee cannot dispute the signature of his wife Asiya Basheer in the agreement. In the said agreement, Asiya Basheer signed for herself and onbehalf of her husband. The assessee has honoured the agreement entered into by his wife. The sale deed dated 21.08.2000 also refer....