2024 (6) TMI 1578

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....t Kumar, JCIT ORDER PER JAGADISH, A.M : Aforesaid appeal filed by the assessee is against the order of Learned Commissioner of Income Tax, Appeal, National Faceless Appeal Centre (NFAC), Delhi [hereinafter "CIT(A)"] dated 20.11.2023 in the matter of assessment framed by Ld. Assessing Officer [AO] u/s. 143(3) r.w.s 147 of the Income Tax Act, 1961 (hereinafter "the Act") on 11.11.2019. 2....

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....O therefore, added the balance amount of Rs. 71,32,000/- u/s. 69 of the Act as unexplained investment. 3. On appeal, the Ld. CIT(A) has confirmed the addition as the assessee has not furnished any evidence and material in support of her contention that the actual sale consideration was Rs. 74,50,000/- as against sale consideration Rs. 3,18,000/- in registered sale deed. The assessee is in appea....

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....turn of income as land was shown as agriculture land in sale deed and she was under impression that the sale on agriculture income was not taxable. The leaned AR submitted that the assessee is a housewife and has never filed her return of income, therefore, the source of cash deposit can be nothing but the cash received on the sale of agriculture land. The Ld. AR therefore argued that the source o....

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.... date of registration as sale consideration and deposited the cash receipt in the bank account. However, the A.O has not accepted the assessee's contention as the purchasers in the statement have stated that they have only paid Rs. 3,18,000/- for purchase of the land. The Ld. CIT(A) has also confirmed the addition stating that the assessee has not furnished any evidence and material in support of ....