2025 (11) TMI 1233

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.... raised the following grounds of appeal: 1.1 The order passed u/s 250 on 28.02.2025 for A.Y. 2013-14 by Addl./JCIT(Appeal)-6. Mumbai (for short CIT(A) confirming addition u/s 69 of Rs. 8,01,000/- as on money payments to Dharmadev Infrastructure Ltd is wholly illegal, unlawful and against the principles of natural justice. 1.2 The Ld. CIT(A) has grievously erred in law and or on facts in not considering fully and properly the explanations furnished and the evidence produced by the appellant. The CIT(A) has also failed to consider that the said party did not turn up for cross examination in response to the summons issued by AO, though the appellant had waited in the office of CIT(A) for the whole day. 1.3 The Ld. CI....

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.... consideration on 08.08.2014, declaring total income at Rs. 5,02,140/-. The Assessing Officer received information from the office of DCIT, Cen Cir2(4), Ahmedabad that assessee had made advance payment in cash of Rs. 8,01,000/- on 29.08.2012 to M/s Dharmadev Group for purchase of two shops on ground floor at block no. I & J of Swaminarayan Park-1, Narol; however, the source of investment remains unverified. Therefore, notice u/s 148 dated 28.3.2018 was issued. In response, the assessee filed return of income on 23.10.2018 declaring total income at Rs. 5,02,140/-. The assessee was provided with the copy of reasons recorded by letter dated 24.10.2018. 4. During the course of re-assessment proceedings, the Assessing Officer issued notice u/....

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....AC/CIT(A), wherein detailed submissions were filed from time to time along with relevant case law including the decision of jurisdictional Tribunal in case of Kirit Kalidas Gajjar vs ITO ITA No.2444/Ahd/2018 dtd. 09.12.2022. The NFAC has dismissed the appeal on a short ground that the Dharmadev Group/Shri Umang Thakkar had made an offer before the Settlement Commission which included cash payments made by the assessee. The Ld. CIT(A) dismissed the appeal of the assessee by observing as under: "...I have gone through the material available on record and the submissions made by the assessee along with the presented before me during the video conferencing scheduled on 28.02.2025. As the Settlement Commission had accepted the income of....

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....be used in evidence in any proceeding under the Indian Income-tax Act, 1922 (11 of 1922), or under this Act. [Explanation.-For the removal of doubts, it is hereby declared that the examination of any person under this sub-section may be not merely in respect of any books of account, other documents or assets found as a result of the search, but also in respect of all matters relevant for the purposes of any investigation connected with any proceeding under the Indian Income tax Act, 1922 (11 of 1922), or under this Act.] 8. We have also gone through the circular of CBDT with regard to the disclosure made in the statement recorded u/s 132(4) sans seized material. CBDT Instruction F. No. 286/2/2003-IT (Inv.), dated 10-3-2003 ....