2023 (1) TMI 768

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....the order dated 27.11.2019 passed by the CIT(A)-5, Ahmedabad for the Assessment Year 2011-12. 2. The grounds of appeal raised by the assessee are as under :- "1. That the Ld. Commissioner of Income Tax (Appeals) has erred in confirming addition of Rs.16,73,700/- being made as unexplained investment u/s.69B of the Act. 2. That the various reasons advanced by ld. Commissioner of Income Tax (Ap....

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....ame addition made in the appellants case should be deleted. 5. Without prejudice to the above, the appellant further submits that she has only 50% share in the property and therefore the addition should be restricted to 50% of Rs.16,73,700/- i.e. Rs.8,36,850/-" 3. In this case, the return was originally filed by the assessee on 14.07.2011 declaring total income of Rs.5,23,194/-. The case was ....

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....hat the husband of the assessee was also part of the said transaction as per the contentions of the Revenue. The Ld. AR further submitted that REC-DIS does not stand for on-money receipt of money and, therefore, the additions made in the hands of the assessee were not genuine. The Ld. AR further submitted that in the case of assessee's husband, the CIT(A) has allowed the appeal of the husband of t....

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....s on technical ground and the same cannot be applied in the present case. Ld. DR further submitted that the assessee has never denied that the cheque payments were made which was under the caption of REC-CHQ. The Ld. DR submitted that RECDIS also contemplates that the receipt on discount and, therefore, the addition was rightly made by the CIT(A)/Assessing Officer. The Ld. DR relied upon the order....