2025 (5) TMI 1175

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ssessment year is 2016-2017. 2. There is a delay of 33 days in filing this appeal. The assessee has filed a petition for condonation of delay. On perusal of the reasons stated for late filing of this appeal, we are satisfied that there is sufficient cause and no latches can be attributed to the assessee. Hence, we condone the delay of 33 days in filing this appeal and proceed to dispose of the same on merits. 3. The grounds raised read as follows:- 1. The learned CIT(Appeals) is erred in adopting the wrongly reported property value of Rs. 1,36,26,000/- as against the actual figure of Rs. 13,25,500/- and treating the same as unexplained investment u/s 69. The data uploaded by the sub-registrar's office mistakenly included ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n in response to the notice issued u/s. 148 of the Act. The AO issued various notices u/s. 142(1) of the Act. Since there was no response, the AO issued show cause notice why the assessment should not be completed on best judgment basis u/s. 144 of the Act. Since there was no compliance to the show cause notice issued by the AO, the assessment was completed on 04.01.2024 on a total income of Rs. 1,55,19,000 u/s. 144 r.w.s. 147 of the Act. The computation of income made u/s. 144 r.w.s. 147 of the Act, reads as follow:- Sr. No. Description Amount (in Rs. ) 1. Income as per return of income filed (not filed) NA 2. Income as computed u/s. 143(1)(a) NA 3. Addition in respect of purchase or immovable property as d....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t Rs. 1,36,26,000 was a mistake and the same has been corrected y the District Registrar, vide order dated 14.05.2024. The CIT(A), however, rejected the contentions of the assessee by holding that in absence of details it is unverifiable whether the sale deed submitted by the assessee during the course of appellate proceedings and the property in question is one and the same. The relevant finding of the CIT(A), reads as under:- "4.3.0 I have gone through the grounds of appeal, assessment order and submissions of the appellant. It is seen from the submissions that the appellant had purchased the flat for Rs. 28 lakhs and the same was registered for Rs. 13,25,500/-. It is further submitted that the data uploaded by the sub registrar&....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ount, tax computation sheet for salary for the relevant assessment year, etc. The learned AR by referring to the purchase deed of the immovable property dated 05.05.2015, submitted that the Sub Registrar Office had mistakenly included an extra digit reflecting the property value as 1,36,26,000 instead of Rs. 13,25,500. The learned AR submitted that the same has been corrected by the District Registrar vide order dated 14.05.2024. A copy of the same (English translation) is placed on record at page 65 of the paper book. The learned AR submitted that in the interest of justice and equity, matter may be restored to the AO for fresh adjudication. 8. The learned DR supported the orders of the AO and the CIT(A). 9. We have heard rival submi....