2025 (8) TMI 821

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....ed by the assessee emanates from the order of the NFAC/CIT(A) dt. 08.01.2024 for A.Y. 2017-18 as per the grounds of appeal on record. 2. In this case the assessment was completed on 30.03.2022 u/s 147 r.w.s 144 of the Act. The following additions were made:- (1) Rs. 12,00,000/- as undisclosed investment u/s 69 of the Act; (2) Rs. 27,26,800/- as income from other sources u/s 56....

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....ssee on 28.03.22 and since the case was getting time barred on 31.03.22 the AO proceeded to complete the assessment based on material available on record. It was observed by the AO from the bank account that the assessee had paid only Rs. 20 lakhs to Md. Sohail Akhtar on various dates. In absence of any documentary evidence therefore, the difference of [Rs. 32,00,000/- - Rs. 20,00,000/-] i.e. Rs. ....

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....CIT (A) dismissed the appeal of the assessee as not admitted. 4. I have heard the rival submissions of the parties herein, have carefully considered the documents on record and have analysed the facts and circumstances in this case. The assessee has admitted to have paid the sale consideration for purchase of the that flat, to Md. Sohail Akhtar for Rs. 32,00,000/-. Along with this reply the ass....

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....eply from the assessee, the assessment was completed. The ld. DR could not refute these facts on record. Per Contra ld. AR vehemently challenged the validity of the additions made in this case. He submitted that the assessment was completed on a summary basis without conducting adequate enquiry regarding the facts of the case. That even the principles of natural justice had been violated since wit....