2025 (7) TMI 754

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ment order dated 29.11.2024 u/s. 147 r.w.s. 144 of the Income-tax Act, 1961 [the Act] by the National Faceless Assessment Centre, Delhi [ld. AO] was dismissed. 2. The assessee is aggrieved and has preferred this appeal raising several grounds of appeal but main grievance is that ld. AO has made double addition with respect to purchase of property based on two annual information returns i.e. one on the basis of TDS made by assessee u/s 194IA and second on the basis of TDS return filed by the Sub registrar. Further addition was made of cash deposit in bank account received by assessee as a partner of firm which has made disclosure under IDS Scheme. 3. The brief facts of the case show that assessee is an individual, is a non-filer of return.....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... 1 Flat at Pune and therefore the proposed addition on account of TDS made for purchase of property u/s. 194IA and also once again on account of purchase of property is improper. With respect to the amount deposited in the bank account, assessee has furnished the bank statement with ICICI Bank and Corporation Bank. From the above, the AO noted that assessee has deposited cash of Rs. 117,29,000 in ICICI Bank A/c of Rs. 13,05,000 in Corporation Bank for which no documentary evidences are provided. 6. Based on this, the order u/s. 144 of the Act was passed wherein the AO made an addition of Rs. 130,34,000 being amount deposited in the Bank account a/c and also made an addition of Rs. 265,59,308 on account of TDS statement for payment in consi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....y wherein the amount stated to be Rs. 124,05,708 and same transaction for purchase of property through Sub-Registrar reported at Rs. 145,09,600 was also added. He therefore submitted that addition of Rs. 269,15,300 is double addition on account of single transaction. With respect to the deposit in the bank account, he submitted that there is no unaccounted money deposited by the assessee in any of the bank account,. Source of which is explained as IDS disclosure of partnership firm where assessee is a partner. He submitted that given an opportunity, assessee would be able to explain the same before the lower authorities. 10. The ld. DR vehemently submitted that assessee has been granted 5 opportunities by the ld. CIT(A) and further several....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....failed to respond to the many of such opportunities. Failure on the part of assessee for default, despite service of proper notices has resulted into substantial addition in the hands of assessee. Had the assessee availed of the opportunities, perhaps the assessment order and the appellate order would not have been passed without assessee being heard. There is no default on the part of the Assessing Officer as well as the ld. CIT(A), but it is the fault of the assessee who did not avail the opportunities granted to him. It is also true that if the contention of the assessee is accepted, perhaps atleast the double addition on purchase of property would not survive, but the same is a matter of examination. 14. In view of the above facts and ....