TaxTMI 
TaxTMI 
2025 (12) TMI 297
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....vice of notice of Rule for and on behalf of the respondent(s). 2. The present writ petitions emanate from the notices issued under the provisions of Section 153C of the Income-tax Act, 1961 (for short, "the Act") dated 13.10.2021 by the respondent- Assessing Officer (AO) for the Assessment Years (AY) 2014-15 to 2020-21. 3. Since a common issue is involved and a common prayer is made in the present writ petitions, and also with the consent of the learned advocates appearing for the respective parties, Special Civil Application No. 4163 of 2023 is taken as the lead matter. FACTS : 4. It is the case of the petitioners that a search under Section 132 of the Act was conducted in the case of Land Broker & Financer Group, Ahmedabad on ....
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....pugned notice, the AO has incorporated the statement of Shri Dhaval Teli, wherein he has referred to the transactions or MoU between the seller -Dilipbhai Patel and the buyer - Dhirenbhai Bharvad for the total sale consideration of Rs.39,32,25,000/-, out of which Rs.1,00,00,000/- was paid in cash on 01.03.2016. It is submitted that the searched person, Shri Dhaval Teli, has categorically stated that the deal was not done by him but by some other broker; however, he supplied the latest information/document of 7/12 or Form No. 6 of the land in question. It is submitted that by making a public inquiry, the AO relied upon the registered sale deed numbered 885 dated 12.04.2018 between the petitioners and the seller and presumed that an amount of....
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....d by the AO in the show-cause notices, it is submitted that at this stage, since the assessment is yet to be undertaken, the names of the petitioners having been disclosed during the search conducted on Shri Dhaval Teli, who was a broker, the impugned notice may not be interfered with. 8. Learned Standing Senior Counsel Mr. Patel has also contended that it is shocking to note that the MoU, which was found during the search from Shri Dhaval Teli between the seller - Dilipbhai Patel and the buyer - Dhirenbhai Bharvad mentions the total sale consideration of Rs. 39,32,25,000/-, out of which Rs. 1,00,00,000/- was paid in cash on 01.03.2016 to the seller. This is in contradistinction to the amount of sale consideration found by the AO between....
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....to for the very same land for a sale consideration of Rs. 39,32,25,000/-, and merely because the said land deal did not fructify would not affect the assessment proceedings against the petitioners. It is submitted that when such information/document was received from the searched person regarding the deal done by the petitioners, the undisclosed investment of Rs. 27,32,00,000/- was known, and accordingly the AO recorded his satisfaction, which satisfies the provisions of Section 153C. Thus, it is urged that the writ petitions may be dismissed. ANALYSIS AND CONCLUSION : 10. We have heard the learned advocates appearing for the respective parties at length and also perused the documents as pointed out by them. 11. The facts establish....
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.... images shared between Dilip Patel, Ashok Atmaram Patel (proposed seller) and Dhiren R. Bharwad (proposed purchaser) disclosed the sale of Survey No. 329 for Rs. 39.32 crores. The searched person, i.e., the broker, in his statement before the AO asserted that he did not broker the land deal and only supplied 7/12 Form and Form No. 6 showing land entries post search. Thus, these forms were not seized during the search but were handed over by the broker to the AO post search. After these were supplied, the AO obtained the sale deed information from the public domain. It is pertinent to note that there was no incriminating material found during the search having a direct nexus with the petitioners. Thus, the information/documents collected by ....