TaxTMI 
TaxTMI 
2026 (2) TMI 806
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....lared at INR 29,45,000/- in the return of income filed by the assessee. 3. During the year under appeal, assessee had sold a property and purchased another property and claimed deduction of INR 1,90,86,224/- u/s 54F of the Act which was disallowed by holding that the assessee is owner of more than one residential property. Besides this, an addition of INR 50 Lakhs is made on account of on money paid in cash for purchase of property. 4. Against the said order, assessee filed an appeal before Ld. CIT(A) who vide order dated 08.08.2024, dismissed the appeal of the assessee. 5. Aggrieved by the order of Ld.CIT(A), assessee is in appeal before the Tribunal by taking following grounds of appeal:- 1. "That on facts and in law the impugned order dated 08 August 2024 passed by the Commissioner of Income Tax (Appeals) (hereinafter referred to as the "CIT(A)") and the order of Assessment Order dated 05 March 2024 passed by the Assessing Officer (hereinafter referred to as the "AO") are bad in law and void ab initio. 2. That on facts and in law the CIT(A) has erred in passing the impugned order violating settled principals of natural justice, i.e. inter alia not prov....
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....portunity to cross-examine Mr. Nadeem Ahmad Khan. (d) Not bringing on record the details of proceedings initiated (if any) against Mr Nadeem Ahmad Khan. (e) making/upholding the addition premised conjectures and surmises. That the appellant craves for leave to add, amend, modify or alter the grounds of appeal," 6. Ground of appeal Nos. 1 & 2 raised by the assessee are general in nature, hence dismissed. 7. Ground of appeal Nos.3 to 4.3 raised by the assessee are with respect to the disallowance of deduction u/s 54F of the Act of INR 1,90,86,224/-. 8. Heard the contentions of both the parties and perused the material available on record. The assessee is owner of Four properties, one is situated at Gopeshwar which was purchased by her husband in 1965 and second property is also situated at Gopeshwar and was purchased by her husband in the year 1973; third property is situated at village Kothiaisain, constructed by her husband in 2007 and fourth property at Joshi Math purchased by her husband in 1999. All the properties were purchased/constructed by assessee's late husband and assessee become the owner of these properties after the death of her husb....
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....e the lower authorities and not examined at any stage, this issue is remanded back to the file of the AO with the direction to examine the claim of the assessee with respect to the affidavits of tenants before us and decide the same as per law. With these directions, Grounds of appeal No. 3 to 4.3 raised by the assessee are allowed for statistical purposes. 11. Ground of appeal Nos. 5 to 7 raised by the assessee are with respect to the addition of INR 50 Lakhs made by holding that the same as unexplained on-money paid in cash for the acquisition of the new property. 12. Facts of the issue are that on 19.01.2022 during the State Assembly election, one person namely Shri Nadim Ahmad Khan was intercepted by the Police authorities and cash of INR 37 Lakhs was found in his possession alongwith the draft typed Sale Deed where the seller was Smt. Madhulika Sandhu, wife of late Shri Narendra Sandhu and the purchaser was Smt. Dhooma Devi, W/o Late Uday Singh Rawat, Chamoli i.e. the assessee and one loose paper containing certain scribblings that total sale transaction was for INR 2.50 crores out of which 2.05 crores was mentioned in draft deed and balance INR 45.00 Lakhs was to be pai....
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.... the orders of lower authorities and submits that Shri Nadim Ahmad Khan was the broker in the transaction and cash of INR 37 Lakhs was found from his possession alongwith a typed draft Sale Deed and one loose paper containing certain scribblings according to which land was sold for INR 2.50 crores and out of which INR 45 Lakhs were to be paid in cash. It is thus requested that the orders of the lower authorities based on such glaring evidences by making addition of INR 50 Lakhs as own money in the transaction of purchase of property by the assessee be uphold. He prayed accordingly. 16. Heard the contentions of both the parties and perused the material available on record. In the present grounds of appeal, the issue is whether any own money was paid by the assessee at the time of purchase of land. The assessee has entered into an agreement for purchase of land in terms of registered Sale Deed for a total consideration of INR 2.00 crore though the AO in the assessment order at page 2, observed that as per loose paper found from the possession of Shri Nadim Ahmad Khan and the draft Sale Deed, the sale consideration was stated to INR 2.05 crores and the total sale consideration is m....