2025 (2) TMI 1240

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.... re-opening of assessment. 2. The brief facts of the case are that AO has received information from Annual Information Report, CIB/NMS exhibiting the fact that assessee had purchased an immovable property during the Financial Year 2010-11 relevant to assessment year 2011-12. He has a share of 355/1721 of that immovable property. According to the AO, the contribution of the assessee was worked out to Rs. 21,47,750/-. He recorded the reasons and reopened the assessment. According to the assessee, the notice was not served upon him and therefore, he could not appear before the AO. The ld. AO has passed ex-parte assessment order under Section 144/147. He made an addition of Rs. 22,90,104/-. It comprised alleged cost of plot = Rs. 21,47,750/-....

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....der Chauhan. Somehow this deal was not ultimately materialized. Hence, assessee has to repay the amount which was repaid during this very year and the source of such repayment is from sale of the following properties. Copies of the Sale Deeds have been placed on the record. I take note of the details from the Index of the Paper Book filed by the assessee which read as under : 6 Copy of registry for the sale of property measuring 336.35 Sq. Yards dated 28.12.2010 amounting to Rs. 7,40,000/- out of which the assessee has given refund to Shri Lokinder Chauhan on account of cancellation of agreement to sell dated 18.05.2010. 8-15 7. Copy of registry for the sale of property measuring 145 Sq. Yards dated 28.12.2010 amounting to Rs....