TaxTMI 
TaxTMI 
2019 (1) TMI 1836
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....d confirmed in appeal. 2. The ld. AR referring to the record submitted that the assessee needs to file a Paper Book consisting of necessary evidences on record which needs to be taken into consideration for determining the issues. The evidences, it was submitted, have not been correctly appreciated. However, considering the orders available on record, it was noticed that the evidences are not a subject matter of discussion as only conclusions on some evidences are drawn. Accordingly, it was deemed appropriate to direct the parties to address the facts on record and a pass over was given pointing out that if necessary, time would be granted. 3. In the pass over proceedings, the ld. AR inviting attention to the assessment order para 2 s....
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....s issued to the purchasers returned back with the comment "Left. Returned to sender" and "NSP". 4. The CIT-DR relying upon the orders, on the other hand, submitted that the assessee has failed to substantiate its claim. The affidavit filed by the assessee of Smt. Harjeet Kaur as eye-witness to the transaction has been held to be not relevant as she was sister of the assessee. 5. We have heard the rival submissions and perused the material on record. A perusal of the assessment order shows that the assessee gave the following reply on 12.01.2015 which was also filed in an affidavit dated 08.01.2015, the contents of which are extracted in para 3 of the assessment order and read as under : "1. That I am an agriculture land & der....
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....ng has been concealed therein. 07/01/2015 Deponent Mangat Singh 6. It is seen that summons were issued to the purchasers which came back with the following comments : "But all the letters returned back with postal remark "Left Returned to Sender & NSP". After that their PANs have been traced out from system and noticed that all persons are assessed with Income Tax officer ward- 5(4) &. 5(1), Amritsar. 7. A perusal of the above shows that the Assessing Officer traced the PANs of the three persons and failed to carry out any other activity. A perusal of the impugned order shows that the affidavit of Smt. Harjit Kaur which was filed to support the assessee's claim, was discarded as that being of an interested ....
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....,50,000/- in cash plus Rs. 47,81,250/- by cheque (in total Rs. 3,71,33,250/-) in the bank after receiving this amount from Dilraj Singh Karta HUF, Sh. Sukhdeep Singh Karta HUF and Sh. Satpal Singh after selling 30 Kanal 12 Maria agriculture land sold on dated 28.01.2011 atVill. Ferozepur, Distt. Mohali. 5. That the Assessee filed Affidavit dated 08.01.2015 in which the Assessee has explained that he is doing agriculture farming and have no other source of income. The Assessee further stated that the deposit in the bank was made out of sale proceeds of 30 Kanal 12 Maria agriculture land against which the purchaser paid Rs. 47,81,250/- through cheque (executing for Sale Deed) and paid in cash Rs. 3,23,50,000/- in token of the receipt....
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.... no hold to cause the reluctant purchaser to appear. In the facts of the present case, admittedly 30 Kanal 12 Marla have been sold in village Ferozepur Bangar, Distt. Mohali on 28.01.2011 as per the Sale Deed which has been taken note of by the Department. The fact that it reflected an amount of Rs. 47,81,250/- is a matter of fact. The short issue for consideration was the value of the land sold at the relevant point of time. The AO in the facts of the present case should have carried out necessary enquiries as he had the PAN details of the purchaser. Accordingly, we find that in the peculiar facts and circumstances of the present case, the Tax Authorities have failed to exercise their powers which they are vested with and in the face of....