TaxTMI 
TaxTMI 
2020 (12) TMI 9
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....w of the prevailing situation of Covid-19 Pandemic. 3. Brief facts of the case are that on the basis of AIR information, the assessee deposited Rs. 19.50 lacs in his bank account No. 77430100026369 on 06/05/2010 maintained with Rajasthan Regional Gramin bank, on the basis of which, the A.O. issued notice U/s. 148 of the Income Tax Act, 1961 (in short, the Act) on 06/12/2013. The assessee submitted copy of sale deed before the A.O. showing sale of 2 Bhigha 7 Biswa agricultural land to shri Prithivi Singh at Rs. 6,95,000/-. After making detailed enquiry, the A.O. passed assessment order assessing total income of assessee at Rs. 13,79,400/- after allowing credit of Rs. 6,95,600/-. Being aggrieved by the order of the A.O., the assessee carried the matter before the ld. CIT(A), who after considering the submissions and material placed on record, confirmed the action of the A.O. Against which, the assessee is in further appeal before the ITAT. 4. Ground No. 1 of the appeal raised by the assessee relates to confirming the addition of Rs. 13,79,400/- made by the A.O. The ld. AR appearing on behalf of the assessee has reiterated the same arguments as were raised before the ld. CIT(A).....
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....0,76,500/- was received on 05.05.2010 at the time of executing the sale-deed, out of which Rs. 19,50,000/- was deposited in the bank account of the appellant on the very next day i.e. 06.05.2010. Also, the land sold by the assessee was rural agricultural land being used for agricultural purposes since beginning and not liable to any capital gain tax. The Tehsildar, Kotkasim through his letter dated 27.04.2015 confirmed to the ld. AO that the impugned land is rural agricultural land being used for agricultural purposes. Regarding the further cash deposits of Rs. 1,25,000/- it was stated that these deposits were made out of the withdrawals made from the same account on various dates and agricultural income of the assessee. However, the ld. AO was not convinced with the reply of the assessee and after allowing credit for sale-deed consideration of Rs. 6,95,600/- treated the remaining deposits of Rs. 13,79,400 (20,75,000 - 6,95,600) as unexplained. The ld. CIT(A) has also confirmed the addition made by the AO without properly appreciating the facts of the case and the additional evidences filed by the appellant, in a casual and summary manner. He has further submitted....
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....through the orders passed by the revenue authorities. As per the facts of the present case, we noticed that during the previous year relevant to assessment year 2011-12, cash of Rs. 19.50 lacs were deposited by the assessee on 06/05/2020 in S.B. account No. 77430100026369 in Rajasthan Gramin Bank. Apart from this, further cash deposits of Rs. 35,000/-, Rs. 45,000/-, Rs. 45,000/- were also made in the said account on 12.10.2010, 15.11.2010 and 11.12.2010 respectively. In this way, an aggregate cash deposit of Rs. 20.75 lacs were deposited by the assessee. On the basis of AIR information relating to the aforesaid cash deposits, the AO issued notice u/s. 148 of the Act to the assessee. However, the assessee did not make any compliance of the said notice, thereafter notice u/s. 142(1) of the Act was also issued to the assessee on 06/02/2015 and in consequence thereof certain documents in the shape of sale deed dated 05.05.2010 thereby showing sale of 2 Bigha 7 Biswa agricultural land in village- Dingali by the assessee for Rs. 6,95,600/- to one Sh. Prithvi Singh S/o. Sh. Jaipal Singh, Ullahwas, Teh.-Sohna, Distt.-Gurgaon was filed. It was submitted by the ld. AR that since the source o....
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....t at the time of execution of agreement dated 04/03/2010. It was submitted by the ld. AR that since the land in question was sold @ 9.90 lacs per bigha as per agreement dated 04/03/2010 but on the instance of purchaser, the sale deed was executed at Rs. 6,95,600/- only being the DLC rate, therefore, it is proved that the assessee had received entire amount of Rs. 23,26,500/- from the sale of land in question and therefore, out of this amount, Rs. 19.50 lacs were deposited in the bank account on the very next day i.e. 06/05/2010. In support of the contention made under the similar facts, the assessee has relied upon the decision of the Coordinate Bench of this ITAT in the case of Shri Pappu Ram Saran Vs ITO in ITA No. 1303 order dated 03/09/2020. On the contrary, the ld. DR while relying upon the orders passed by the revenue authorities, had submitted that the assessee has miserably failed to prove the source of cash deposits in the bank as according to the registered sale deed, the land in question was sold at Rs. 6,95,600/- vide sale deed dated 05/05/2010. It was also submitted that no reliance can be placed of agreement dated 04/03/2010 as the same is not an authentic document. I....
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....3/2010 carries no evidentiary value. Even otherwise, the registered sale deed dated 05/05/2010 is between the different parties i.e. the assessee and one Shri Prithivi Singh and is a registered document, therefore, the presumption of correctness is attached with the said registered sale deed. On the other hand, the said agreement dated 04/03/2010 is an unregistered document which is not find mentioned in the registered sale deed dated 05/05/2010 and has also been executed between different parties i.e. the assessee and one Jaipal and even the said Jaipal has not found to be signatory to the said agreement dated 04/03/2010 which amply proves that this document dated 04/03/2010 carries no evidentiary value, therefore, no benefit can be derived upon by the assessee on the basis of said agreement to sell. It is a settled law that when a registered document has been placed on record, therefore, the presumption is to be drawn that registered document in the shape of registered sale deed dated 05/05/2010 carried evidentiary value which shows that the consideration paid to the assessee for the sale of the land in question was only at Rs. 6,95,600/- and the A.O. had rightly completed the as....