2024 (11) TMI 148

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..../VIZ/2023 for the A.Y. 2017-18. ITA No. 244/VIZ/2023 (A.Y. 2017-18) 2. This appeal is filed by the assessee against the order of Learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [hereinafter in short "Ld.CIT(A)"] in DIN & Order No. ITBA/NFAC/S/250/2023-24/1054750445(1) dated 31.07.2023 for the A.Y. 2017-18 arising out of order passed under section 143(3) of the Income Tax Act, 1961 (in short 'Act') dated 23.12.2019. 3. Brief facts of the case are that, assessee being an individual filed the return of income for the A.Y. 2017-18 on 13.02.2018 admitting the total income of Rs. Nil. Subsequently, the case was selected for complete scrutiny under CASS to verify the issue of cash deposits during the ....

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....period aggregating to Rs. 17,86,000/- as unexplained money under section 69A of the Act. 6. On being aggrieved by the order of the Ld.AO, assessee filed an appeal before Ld. CIT(A). Before Ld. CIT(A), assessee made same submissions as was made before Ld.AO. Ld. CIT(A) dismissed the appeal of the assessee stating that no documentary evidences regarding the same has been provided by the assessee. 7. On being aggrieved by the order of the Ld. CIT(A), assessee is in appeal before us by raising following grounds of appeal: - "1. The Appeal order passed u/s 250 of the Income Tax Act by the Learned Commissioner of Income Tax, NFAC, Delhi is contrary to the law and facts of the case. 2. The Learned Commissioner of Income Tax, NFAC, Delhi is n....

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....ing the rental incomes and other incomes. He therefore pleaded that the sources for the cash deposits have been explained before the revenue authorities but they have not considered the same. He pleaded that the addition may be deleted since the assessee has explained the source of cash deposits. 9. Per contra, Ld. Departmental Representative [hereinafter in short "Ld.DR"] submitted that assessee has not filed any documentary evidences either before the Assessing Officer or before Ld. CIT(A) and therefore the sources were not properly explained by the assessee with documentary evidences. He therefore, pleaded that order of the Ld. CIT(A) be upheld. 10. We have heard both the sides and perused the material available on record. It is an adm....

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.... short "Ld.CIT(A)"] in DIN & Order No. ITBA/NFAC/S/250/2023-24/1055130429(1) dated 14.08.2023 for the A.Y. 2015-16 arising out of order passed under section 200A(1) r.w.s. 194-IA of the Income Tax Act, 1961 (in short 'Act') dated 13.09.2021. 13. Brief facts of the case are that the assessee being an individual purchased an immovable property of vacant site at Door No. 2-28-14, MVP colony, Visakhapatnam from three joint co-owners namely Smt. Bikkina Satyavati, Sri Bikkina Ravi Prasad and Sri Bikkina Srinivas. The assessee has paid a total consideration of Rs. 99,00,000/- on various occasions as mentioned in the sale deed. Assessing Officer noticed that assessee has failed to deduct Tax at source as per provisions of section 194-IA of the Ac....

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....lly into consideration. Hence the appellant prays for relief. 3. The Honourable Commissioner of Income Tax (Appeals), NFAC, Delhi has erred in not considering the claim of the appellant that since the consideration paid to each transferor is less than Rs. 50 Lakhs, the appellant is not liable to deduct TDS u/s 194 IA of the Income tax Act and hence not an 'assessee in default' u/s 201(1) of the Income Tax Act. The appellant prays for relief of the same. 4. The Commissioner of Income tax (Appeals), NFAC, Delhi is not justified in treating the appellant as assessee in default and raising tax demand of Rs. 1,79,340/-. The appellant prays for relief of the same. 5. For these and other grounds that may be urged at the time of appea....

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....son referred to in section 194LA) to a resident transferor any sum by way of consideration for transfer of any immovable property (other than agricultural land), shall, at the time of credit of such sum to the account of the transferor or at the time of payment of such sum in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct an amount equal to one per cent. of such sum as income- tax thereon. (2) No deduction under sub-section (1) shall be made where the consideration for the transfer of an immovable property is less than fifty lakh rupees. (3) The provisions of section 203A shall not apply to a person required to deduct tax in accordance with the provisions of this section. Explanation.-- For th....