2024 (5) TMI 490

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....ear 2014-15, arises against the National Faceless Appeal Centre [in short the "NFAC"] Delhi's Din and Order No. ITBA/NFAC/S/250/2023-24/1052834223(1), dated 15.05.2023, involving proceedings u/s. 143(3) of the Income Tax Act, 1961 (in short "the Act"). Heard both the parties. Case file perused. 2. The assessee pleads the following substantive grounds in the instant appeal : 1. "The assessee ha....

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....tion of which was ascertained by the Valuation Officer at Rs. 67,32,600/-. So, there is a difference of Rs. 5,08,100/-. The A.O. has considered the difference amount of Rs. 1,61,000/- & Rs. 5,08,100/- as income of the assessee as income from other sources u/s.56(2)(vii) of the Income Tax Act, 1961. 3. The assessee during course of scrutiny assessment has submitted the copy of sale deeds of the t....

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.... substantive grievance seeking to reverse both the learned lower authorities action making twin additions u/sec. 56(2)(vii) of the Act of Rs. 1,61,000/- and Rs. 5,08,100/-; totalling to Rs. 6,69,100/- involving as many capital assets purchased in the relevant previous year; in the course of assessment dated 26.12.2016 as upheld in the NFAC's lower appellate order. 4. It transpires during the cour....