2026 (2) TMI 210

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....against the re-assessment order passed u/s. 147 r.w.s. 144C of the Act on 09.05.2024 by the Income Tax Officer, International Taxation Ward, Mangalore was dismissed for the reason that the Ld. CIT(A) in paragraph no. 4.4 noted that Assessee is not keen in pursuing the Appeal and as Assessee has not furnished any information to decide the issue on merit. The Ld. CIT(A) is left with no option but to dismiss the Appeal. 2. The Assessee is in appeal. 3. The fact shows that Assessee is a non-resident individual residing at Saudi Arabia who has not filed his return of income, but intimation is received about the transaction of TDS that purchase of immovable property u/s. 194-IA of Rs. 55,00,000/-. As the Assessee has not filed its return of....

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....e Resolution Panel and therefore the Ld. Assessing Officer made the above two additions and determined the total income of the Assessee at Rs. 13,21,820/-. 6. Aggrieved by this, the Assessee preferred an Appeal before the Ld. CIT(A) wherein Ld. CIT(A) noted that Assessee was issued notices of hearing on 4 occasions, but none appeared and therefore she dismissed the Appeal of the Assessee for non-prosecution. Therefore, Assessee is in appeal. 7. The Ld. Authorized Representative submitted that undoubtedly, the Assessee could not remain present before the Ld. CIT(A). Further, in the statement of facts, the Assessee has submitted the complete detail that the amount of Rs. 7,00,000/- has been paid to the builder before 10 years. Therefore....

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....bsequently, the Assessee could produce the sources of the funds to the extent of Rs. 48,00,000/- and therefore the addition was made of the impugned amount not of Rs. 55,00,000/- but only of sum,sources of which could not be shown by the Ld. Assessing Officer. Such amount is Rs. 10,81,240/- being the balance payment of purchase consideration as well as the amount paid for registration and stamp charges. Further, sum of Rs. 2,90,000/- was made on account of addition u/s. 56(2)(vii)(b) difference between the stamp duty value of the transaction as well as the amount of consideration paid. Therefore, I do not find any infirmity in the issuance of notice u/s. 148 of the Act. Further, this fact has not at all been dealt with by Ld. CIT(A). 10.....