2022 (10) TMI 109

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....lay of 39 days in filing the appeal before the Hon'ble Tribunal and explained that the filling was delayed and relied on the decision of Hon'ble Supreme Court in respect of extension of period of limitation. We find the registry has issued defect notice to the assessee mentioning the delay of 39 days in filling the appeal. On application of the ratio of decision of the Honble Supreme court in respect of extension of limitation period the delay can be condoned and the Ld.DR has no specific objections. Further we are satisfied with the reasonable cause explained for delay in filling the appeal and accordingly we condone the delay and admit the appeal. The assessee has raised following grounds of appeal. 1. That the impugned order ....

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....as accepted the total income of the assessee as per the return of income filed and passed the assessment order U/sec143(3) of the Act dated 15-12-2017 determining a total income of Rs. Nil. 3. Subsequently, the Pr.CIT on verification of the assessment details and the assessment record found that the assessment order passed by the A.O. is without verification and non application of the mind. The Pr.CIT find that the assessee has sold the four flats in violation of provisions of Section 43CA of the Act and there is a difference in the market value and the agreement value of the flats aggregated to Rs.18,52,885/- and the AO has not verified these facts and also failed to verify the receipts from the prospective buyers are before the date of....

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....formation before the A.O on the applicability of Section 43CA of the Act.The Pr.CIT is of the opinion that the assesseement order passed U/sec143(3) of the Act is erroneous and prejudicial to the interest of Revenue and invoked the explanation 2 sub section 1 of 263 of the Act and has set-aside the assesseement order and issued the directions to the A.O. to pass a fresh assesseement order after due verification of the submissions of the assessee and also after conducting proper verification/inquiries, investigation and examination of working furnished by the assessee and the assessee should also provided adequate opportunity of hearing and passed the order under Section 263 dated 18.03.2020. Aggrieved by the order of the Pr.CIT, the assesse....

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.... the paper book and where the details were called and in particular clause (vi) The details of advance booking in the format in particular to the Flats. The contentions of the Ld. AR are that the assessee has filed the details on these aspects and demonstrated page 82&83 of the paper book with the registration details of customer in F.Y.2014-15 disclosing the market value amount and agreement amount. Further the AO after verifying these facts and the information has accepted the return of income. The Ld. AR also submitted that the AO after satisfying with the evidences and the submissions duly supported with the information has passed the order and referred to various facts and the audited report. The Ld. DR referred to page 83 of the paper....