2025 (11) TMI 1518

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....the order dated 23.12.2018 passed u/s 143(3) of the Income Tax Act, 1961 (hereinafter referred as 'the Act') by the ACIT, Circle-2(1)(1), Ghaziabad (hereinafter referred to as the Ld. AO). 2. At the outset, the ld. AR has submitted that there was a delay in filing of the appeal to the extent of 238 days for which an application for condonation of delay has been filed along with an affidavit wherein it is mentioned that the assessee has suffered cardiac arrest and relevant records are filed. We are satisfied that the same sufficiently justify the delay. The application for condonation of delay is allowed and the appeal is admitted for hearing. 3. Briefly stated facts as culled out from the records are that the appellant is an Individua....

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.... "9.1 I have perused the assessment order & other documents submitted by the appellant. As regards with the above addition of Rs. 2,15,73,388/-, the appellant has refuted the observation of the AO and reiterated his contention that the source of capital introduced in the business was of sale proceeds of agricultural land. In support of his contention, the appellant has submitted profit and loss account, balance sheet, agreements to sell for Rs. 2,15,73,388/- and Sellers and Buyers PAN and Photo ID address. 9.2 On a perusal of assessment order, I find that the AO has considered the above documents furnished by the appellant at the time of assessment proceedings and found not acceptable with the following observations:- 1.....

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....f assessment proceeding, the appellant was failed to discharge his duty by not furnishing execution of sale deed even after requisition by AO in order to substantiate his claim. The appellant has taken a separate ground of appeal that he must be given one more opportunity to submit the relevant documents. On perusal of assessment order, I find that the appellant was given sufficient opportunities to furnish requisitioned documents in order to substantiate his claim. However, the appellant had sufficient opportunities to substantiate his claim by submitting execution of sale deeds, but he could not produce the same. Even at the time of appellant proceedings, the appellant had been given various opportunities to furnish relevant documents. Bu....

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....that various agreements were executed in regard to the family land situated in the district Balia. It was contended that the land sold is part of larger chunk of land and as there is a dispute with regard to the shares, sale deeds could not be executed, otherwise, whole of the consideration stands transacted and possession delivered. 5.1 The ld. DR has primarily defended the impugned orders on the basis that the agreements are inchoate documents and do not vest any title. It is submitted by the ld. DR that these agreements were possibly not filed before the ld. tax authorities below. 6. At the outset, we observe that while filing the paper book, the ld. counsel for the assessee Shri Mayank Patwari, Advocate has given a declarations th....