TaxTMI 
TaxTMI 
2015 (10) TMI 587
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....2010 at Rs. 1,33,940/-. The assessee declared income as per provisions of section 44AF of the IT Act. The case was scrutinized under section 143(3) of the Act as there was an AIR information that assessee had purchased immovable property on 16.05.2008 for Rs. 30,00,000/-. The assessee was given reasonable opportunity of being heard which was availed by the assessee. It was submitted by the ld. A/R of the assessee that the registration of house no. 573, Basant Vihar, Kota was executed on 16.05.2008 just for formality, but in fact no sale consideration in cash was passed on by the assessee to the power of attorney holder i.e. assessee's husband Shri Gajanand Verma. However, it was stated that said house was purchased by the assessee in 1988 a....
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....sible that on the same date the seller had sold the said plot to the assessee and on the even date he had given Power of Attorney for selling the plot as well as executed the Will in favour of the husband of the assessee. All these things cannot be made simultaneously. Hence in absence of registered document ownership of the assessee on the said plot had not been proved. Whatever evidences submitted to prove the address of various documents are from the same address was also not found convincing to the AO as these evidences can be created by the tenant also. Hence possession and ownership both had not been proved from these documents. The AO further reproduced certain clause of the registered document dated 16.05.2008 at page 5 of his order....
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....0,00,000/- is deleted. 4. The assessee has, however, failed to prove the source of Rs. 1,84,270/- which was incurred on registration. He confirmed the addition to that extent. 5. Now the revenue is in appeal before us. The ld. D/R vehemently supported the order of AO. 5.1. At the outset, the ld. A/R of the assessee reiterated the argument made before the AO as well as ld. CIT (A). He has drawn our attention on Agreement dated 19.08.1988 between Shri Ravindra Kumar Goyal and Smt. Nand Bai to prove that plot was sold to her and possession was also given to her. Any demand on account of this plot will be paid by the assessee and the registry of this plot would be done after construction which was carried out by the purchaser herself. The co....
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....ed with Sub Registrar on 27.03.1997. The UIT Kota had allowed to sell this plot vide letter no. F/Vikray/1587 dated 03.10.2006. The general Power of Attorney also got registered with Deputy Registrar, Kota on 19.08.1988 in favour of Shri Gajanand Verma, seller of the plot. Thus it is evident that this plot including residential house on it was got transferred from Shri Gajanand Verma, husband of the assesee (Power of Attorney holder) to assessee on 16.05.2008 for a consideration of Rs. 30,00,000/-. The UIT Kota had allowed to transfer this plot no. 573, Basant Vihar, Kota vide its order no. 569-70 dated 22.07.2008 by charging Urban Tax @ 25% in the name of assessee. It is proved that plot was really purchased by the assessee in 1988. Howeve....