2025 (2) TMI 1847

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....TBA/NFAC/S/250/2024-25/1066990742(1) dated 24.07.2024 for the A.Y.2016-17 arising out of order passed under section 143(3) of the Income Tax Act, 1961 (in short 'Act') dated 07.12.2018. 2. Brief facts of the case are that, assessee being an Individual filed his return of income on 07.01.2017 admitting a total income of Rs. 4,43,330/- for the A.Y.2016-17. Subsequently, the case was selected for "Limited Scrutiny" to verify the transaction that "Large investment in property as compared to total income". The reason as per the CASS is that the assessee has acquired Immovable property, the sources of which are required to be examined. Accordingly notice under 143(2) of the Act dated 18.09.2017 was issued and served on the assessee through ITB....

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....see reiterated the similar submissions. Ld.CIT(A) did not accept the submissions thereby sustained the addition made by the Ld. AO while dismissing the appeal of the assessee. 4. Aggrieved by the order of the Ld. CIT(A), assessee is in appeal before us by raising following grounds of appeal: - "1. The order of the learned Commissioner of Income Tax (Appeals) is contrary to the facts and also the law applicable to the facts of the case. 2. The learned Commissioner of Income Tax (Appeals) is not justified in sustaining the addition of Rs. 1,69,12,100 made by the assessing officer u/s 69 of the Act towards unexplained investment in purchase of immovable property. 3. Any other ground may be urged at the time of hea....