2024 (8) TMI 1228

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....CIT-DR ORDER PER N.K. BILLAIYA, ACCOUNTANT MEMBER:- This appeal by the assessee is preferred against the order of the ld. CIT(A) - 12, New Delhi dated 18.01.2019 pertaining to A.Y. 2014- 15. 2. The sum and substance of the grievance of the assessee is that the CIT(A) erred in confirming the assessment order wherein the Assessing Officer has made addition of Rs. 20,54,688/- and Rs. 19,4....

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....wife amounting to Rs. 19,45,312/-. 5. The Assessing Officer completed assessment by recharacterizing the income surrendered by the assessee as income u/s 69A of the Act and made addition of Rs. 20,54,688/- and further made addition of Rs. 19,45,312/- u/s 69C of the Act being long term capital gain in the hands of the wife of the assessee. 6. When the addition was challenged before the ld. CI....

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.... cannot be allowed to retract from his statement. 10. We have given thoughtful consideration to the orders of the authorities below and have carefully considered the relevant documentary evidence brought on record. It is equally true that while giving answer to Question No. 29, exhibited at page 4 of the assessment order, the assessee admitted that he has earned long term capital gain of Rs. 40....

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....elevant findings read as under: "9. Having held so, we may further add that a reading of section 115BBE of the Act makes it clear that the special rate of tax provided under the said provisions shall be applicable under two conditions. Firstly, where the total income includes any income referred to in 6 ITA Nos. 1344 /Del/2021- AY: 2017-18 sections 68, 69A, 69B, 69C or 69D and reflected i....