AI Drafter 
TaxTMI 
TaxTMI 
TaxTMI 
2025 (12) TMI 162
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....;s income for the Assessment Year (A.Y.) 2011-12 without proper appreciation of the facts. This amount comprises: a) Salary income of Rs. 6,62,993/- (duly reported and taxed), b) Savings from past years income. - A sum received from the appellant's father, who is a retired individual, and other receipts which was derived from the sale of stridhan (personal jewellery) to local jewellers. 3. The CIT(A) failed to properly examine and consider the appellant's detailed written submissions, supporting documents, and statements of accounts while determining the source of Rs. 16,00,000/-. The addition has been made arbitrarily, without adequate verification of the documentary evidence provided. 4. The demand of Rs. 26,50,420/-, raised towards tax, surcharge, and education cess, is excessive and unjustified. The same may kindly be deleted." 5. The appellant reserves the right to amend, modify, or add to the above grounds of appeal at any stage of the appellate proceedings." 2. At the very outset, the Ld. Counsel for the assessee submitted that the appeal is time barred by 404 days. Explaining the reasons leading to the said de....
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....itation Act, 1963 regarding the condonation of delay in respect of case of land acquisition has observed and held on the aspect of delay that although the delay cannot be condoned without sufficient cause, the merits of the case could not be discarded solely on the ground of delay. A liberal approach, therefore, should be taken in condoning the delay when limitation ground undermines the merits of the case and obstructs the substantial justice. In other words, the objective of the court should be to deliver substantial justice coupled with liberal and judicious approach while deciding the issue of limitation and whenever it is found that the case has merits which needs to be addressed substantially, in such case, the delay should be condoned. Accordingly, the said delay of 404 days involved in the present appeal is condoned. 6. The brief facts in this case are that the assessee is a non-filer during the year under consideration. On a perusal of the Individual transaction statement (ITS) in the case of the assessee for the year under consideration, the following information was gathered: Sr. No. F.Y. Information Code Information Description Amount (in Rs.) 1. ....
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....ves along with additional loan from LIC amounting to Rs. 24 lacs. The appellant has challenged the how borrowings can be treated as income of the appellant. 5.2 I have carefully considered the facts of the case, findings of the AO contained in the assessment order, issues raised by appellant vide this ground of appeal and reply,' submission filed by the appellant during appellate proceedings. From the perusal of the assessment order it is seen that AO had credible information that income of Rs. 6,62,993/ appellant had purchased immovable property at Rs. 40 lacs and from TDS return it was gathered that appellant has salary the year under consideration. The appellant has not filed return of income during despite having above mentioned transactions during the year. In the light of above facts, the A.O after due diligence reopened the case by issuing notice u/s 148 of the IT Act, 1961. The AO has noted that in response to notice oils 148, the appellant has filed manual return of income vide email dated 16.04.2018 wherein appellant had declared income of Rs. 6,76,853/-. From the perusal of the assessment order, it is noticed that despite issuing several notice by the AO, th....
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....0/- only. Therefore, this ground of appeal is partly allowed. 6.0. In the result, the appeal of the appellant is partly allowed." 9. As regards the addition of Rs. 16,00,000/- restricted by the Ld. CIT(Appeals)/NFAC, the Ld. Counsel for the assessee filed a written submissions explaining the details about the source of remaining Rs. 16.00 Lac which was not allowed by the Ld CIT(A), extracted as follows: Payments made to the builder (Amounts in Rs.) Reference in the Paper Book (Supporting Evidences) Source of Funds Rs. 5,00,000/- Receipt No. 1 (Page No. 153) & HDFC Bank St. (Page No. 75). *Debit Entry on 16/08/2010, Cheque no. 575041 Rs. 4,11,000/- (Refund) credited on 11-08-2010 (Page No. 75) through cheque no. 282540 from a flat which was previously booked with a builder named Kings Empire Heights Pvt Ltd. Confirmation from Kings Empire Heights Pvt Ltd. Is given in their Letterhead (Page No. 152). & Rs. 2,06,023/- Personal Loan (PL) from CITI Bank credited on 14-08-2010 on (Page no. 75). Rs. 2,00,000/- Receipt No. 2 (Page No. 154) & HDFC Bank St. (Page No. 76). *Debit Entry on 20/08/2010, Cheque no. 575042 Rs. 1,47,000/- Bank Transfer from fa....
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....verifiable and are from explained sources, i.e., (i) Rs. 5,00,000/- (16.08.2010) which was s sourced out from (a) Rs. 4,11,000/- (refund) credited from builder namely Kings Empire Heights Pvt. Ltd. through Cheque No. 282540; (b) Rs. 2,06,023/- (personal loan from CITI Bank.), Page 75& 152 of the paper book (ii) Rs. 2,00,000/- (20.08.2010) which was sourced out from (a) Rs. 1,47,000/- transfer from assessee's father SBI Bank account Cheque No. 800116; (b) Rs. 53,000/- balance amount from the existing bank balance of his past savings, salary income and personal loan; Page No. 75/76 & 117 of the paper book (iii) Rs. 5,00,000/- (03.09.2010) which was sourced out from (a) Rs. 4,00,000/- i.e. cash deposits received from his father; (b) Rs. 2,21,100/- received from his mother; Pages 76, 126, 148 to 151 of the paper book (iv) Rs. 64,633/- (15.06.2012) which was sourced out of ECS credit from Siemens on very last day of the month as salary income, Pages 35 to 44 & 84 & 85 of the paper book (v) Rs. 2,00,000/- (28.01.2014) which was sourced out of Salary income from ECS; Pages 45 to 59 and 90 to 98 of the paper book and (vi) Rs. 1,50,000/- (08.04.2014) which was sourced out of Salar....