TaxTMI 
TaxTMI 
2017 (9) TMI 476
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.... 2. That the Ld. CIT(A), Dehradun, has erred in law and on facts in deleting the addition of Rs. 35,00,000 made on account of unexplained investment made by the assessee in purchase of immovable property." 2. Briefly the facts of the case are that in this case, an information was received from the CIT, Central Circle, Dehradun, that a search and seizure operation was conducted under section 132 of the I.T. Act, 1961 in the case of Shri Parvinder Singh Kochar at 1- Chander Road, Dalanwala, Dehradun, the documents which were marked as pages 68, 69, 70 and 73 of Annexure LP-4 consisted of details of property and transactions made relating to sale of properties mentioned therein. It was informed that during the assessment proceedings in the ....
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....t" and "other" which were 108.23 and 71 respectively. An amount of Rs. 67 lakhs as on-money had been paid by the parties at the time of or before making of the agreement to sell and earnest money of Rs. 10 lakhs for both the units and that is why under head "total" a figure of 77 was written which in fact denoted 67+10. The last head of this account on page 73 i.e., balance sheet under the head "UR" is figure 98.23 is written which was in fact Rs. 98.23 lakhs i.e., balance amount to be received as per the registered agreement or under registry. The A.O. pointed out that when assessee was asked to explain the amount given as per the column "other", it was submitted that assessee had purchased Unit F-4 and had paid Rs. 5 lakhs earnest money w....
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....ssment in the hands of the assessee. The Ld. CIT(A) accordingly, quashed the reopening of the assessment under sections 147 & 148 of the Act. The Ld. CIT(A) on the same reasoning and in the absence of any evidence against the assessee, deleted the addition on merit as well. 3. Learned Counsel for the Assessee, at the outset, submitted that same issue has been considered by the ITAT, Delhi SMC Bench in the case of ITO vs. Smt. Laxmi Bijalwan, Dehradun in ITA.No.6404/Del./2016 dated 12.07.2017 in which in para-6 it has been held as under : "6. After considering the rival contentions, I am of the view that no interference is called for in the matter. It is not in dispute that name of the assessee was not mentioned in the information provide....