2022 (8) TMI 943

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....ng challenges correctness of both the lower authorities' action disallowing his payment of Rs.32 lakhs made to his mother; for the purpose of computing long term capital gains, in the relevant previous year. The CIT(A)'s detailed discussion affirming the Assessing Officer's action to this effect reads as follows :- "4.4 I have perused the material on record and the contention of the Appellant carefully. I find the Appellant has contended that, the settlement with the mother (and the father) was essential to make the Agreement. The Appellant has also contended that, the amount paid to the mother was not income in the hands of the Appellant by following the 'Real income' theory. The Appellant has also raised the issue of doub....

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....ion to be treated as diversion of income, that of having an overriding title and diversion by it is nonexistent in this case. In fact, in my view an botched up attempt has been made to distribute the Sale proceeds from one hand to another to lessen the liability of Capital Gains in the hands of the sons. The dates of the Agreement 18.02.2012 with the builder and 18.05.2012 with the parents (cheque given to parents 02.08.2012) also proves that, the contention of the Appellant of the parents not signing without the money paid to them, is devoid of merit. The contention of the Appellant that, the parents refused to sign the Agreement without the payment of Rs.32,00,000/- for 'Bread butter in old age', from the Appellant, which he gave ....