2026 (2) TMI 149

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....R DR. B.R.R. KUMAR, VICE-PRESIDENT:- This appeal has been filed by the assessee against the order dated 12.06.2024 passed by the Ld. Addl/JCIT(A)-1, Delhi (hereinafter referred to as the "Ld. CIT(A)"), under Section 250 of the Income-tax Act, 1961 (hereinafter referred to as the "Act") for Assessment Year 2014-15. 2. The assessee has raised multiple grounds of appeal challenging ... ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....pening cash balance, we find that the assessee had explained that the difference arose due to a clerical/typographical error while filing the return of income for the preceding year. The cash balance was sought to be supported by past agricultural and business income. It is also an undisputed fact that the assessee has declared income under section 44AD and was not maintaining regular books of acc....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....made by the Assessing Officer by applying section 50C/43CA of the Act, we note that the property sold was held as stock-in-trade and the assessee had already declared income on presumptive basis. Further, the addition has been made merely on the basis of stamp duty valuation without bringing any material on record to show that the assessee had received consideration over and above the stated sale ....