TaxTMI 
TaxTMI 
2025 (5) TMI 1792
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....025 which has been placed on record, under Rule 11 of the Income Tax (Appellate Tribunal) Rules, 1963 requesting for admission of following additional legal grounds in the instant matter which are purely legal and goes to the root of the matter and needs to be admitted, on the anvil of the decisions of the Hon'ble Apex Court in the case of CIT vs. Varas International, reported in 294 ITR 80 (SC), National Thermal Power Co. Ltd. vs. CIT reported in 229 ITR 383 (SC) and the Special Bench decision in DHL Operators, reported in 108 TTJ 152 (SB). i. That in view of the facts and circumstances of the case and in law, the assessment orders were passed under section 153A/143(3) without seeking mandatory approval under section 153D of the Act. i....
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....made the addition of Rs. 50,00,000/- on account of unexplained advance received. Aggrieved with the action of the AO, assessee preferred the appeal before the Ld. CIT(A), who vide his impugned order dated 16.04.2018 sustained the addition by dismissing the appeal of the assessee. Against the order of the Ld. CIT(A), assessee is in appeal before us. 6. At the outset, it is noted that it was the contention of the assessee made in the grounds of appeal that Ld. CIT(A) has erred in not considering the assessee's plea that since admittedly the "Ekrarname" on the basis of which an addition was made was found and seized from the premises of M/s KDP Infrastructure Pvt. Ltd., therefore, the assessment if any, could be made u/s. 153C of the Act and ....
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....1 between the assessee and Shri Vinod Tyagi executed on judicial stamp paper valued Rs. 100/-, having the contents that an advance of Rs. 50,00,000/- has been received out of agreed consideration of Rs. 1,25,00,000/- by the assessee from Shri Vinod Tyagi for sale of his residential property situated at Home No. 18, Rama Krishan Colony, Model Town, Ghaziabad, which has been confirmed from the statement on oath of the assessee that, indeed advance of Rs. 50,00,000/- was received from Shri Vinod Tyagi, however, Shri Vinod Kumar Tyagi declined to confirm the transactions for the reasons best known to him and Shri Vinod Kumar Tyagi has paid Rs. 50 lacs through banking channel for booking a flat in "Grand Savana" project developed by KDP Infrastr....
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....uted fact that a sum of Rs. 50,00,000/- has been received from Sh. Vinod Tyagi against booking of 3 flats in M/s KDP Infrastructure Pvt. Ltd. and the amount has been received vide cheque no. 00012 dated 04.07.2021 against which receipt has been issued to Mr. Vinod Tyagi, which establishes that the said agreement was found in the premises of M/s KDP Infrastructure Pvt. Ltd., which establishes that money received towards purchase of flats of M/s KDP Infrastructure Pvt. Ltd. The AO did not consider the amount having come from Mr. Vinod Tyagi, however, the said search clearly revealed that no money other than Rs. 50,00,000/- by the aforesaid cheque was received, which appropriately explained the proper source of amount of Rs. 50,00,000/-. Even ....