2022 (3) TMI 881

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....using loan paid merely on the basis of miss-conception, wrong assumption that the entire payment against the joint housing loan (of which Shri Pankaj goyal the brother of the assessee was the first named a/c holder whose monthly cheques were given to the financial institution for repayment of the monthly installments and the assessee was only the second named a/c holder) when the assessee has paid Rs. 1,35,000/- to Shri Pankaj Goyal on a/c of his share of interest and his share of repayment of loan to the financial institution. 2. That the Authorities below erred both in law and on the facts in disallowing and/or sustaining the alleged disallowance of Rs. 16,660/- u/s. 80 C of the Income-tax Act, 1961 on account of assessee's s....

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....s taken up for hearing in the absence of assessee. FACTS OF THE CASE 3. Brief facts of the case are that the Assessing Officer ["AO"] was in possession of information regarding the assessee had made the investment in immovable property for a consideration of Rs. 51,00,000/- in Ghaziabad. Thereafter, the AO re-opened the assessment u/s 147 of the Income Tax Act, 1961 ["the Act"]. The notice u/s 148 of the Act was issued on 31.03.2017 and served upon to the assessee. In response to the statutory notices, Ld.AR of the assessee attended the assessment proceedings from time to time. The Assessing Officer while framing the assessment, noticed that the assessee had claimed loss from house property of Rs. 1,11,574/-. Further, the AO disallowe....

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....) has recorded the facts that it was stated by the assessee that he had transferred an amount of Rs. 1,35,000/- to his brother onward payment of LIC HFL but there was no evidence to corroborate the same. Therefore, Ld.CIT(A) sustained the additions. 9. Looking to the facts of the present case, I find that the assessee was one of joint account holder and the claim of house property loss was disallowed on the basis that the brother of the assessee had paid entire liability of loan. It was stated by the assessee that his share related to the loan was paid to the brother of the assessee. No inquiry has been made from the brother of the assessee. Therefore, considering these facts, I deem it proper to set aside the order of Ld.CIT(A) on this ....