2025 (3) TMI 1754

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....plication supported by an affidavit citing reasons causing delay in filing of appeal. After perusal of the same, I am satisfied that delay in filing of appeal is not intentional, the delay has been caused for the reasons stated in petition which appears to be bonafide. 3. The Hon'ble Apex Court in an unequivocal manner has repeatedly held that acceptance of reason given by the appellant/petitioner explaining delay should be the rule and refusal an exception. By taking a pedantic and hyper technical view the explanation furnished should not be rejected, causing loss and irreparable injury to the party against whom the lis terminates. The expression "sufficient cause" should be liberally construed so as to sub-serve the ends of justice. ....

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....nt year under appeal, the assessee had transferred immovable property i.e. a residential house situated at 416, Pocket-B5, Sector 5, Rohini, Delhi to her mother-in-law Smt. Chander Kala, W/o. Late Shri Chetan Prakash. At the time of original purchase of house the entire purchase consideration was paid by father-in-law of the assessee i.e. Shri Chetan Prakash, except Rs. 4.5 lakhs which was sourced by the assessee through loan from Punjab National Bank vide loan sanction letter dated 01.12.2005. Though, the loan amount was deducted from assessee's salary account, however, in actual father-in-law of the assessee paid the loan installments. After settlement of loan account, in the year 2016, the assessee transferred the house in the name of Sm....

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....or sale of immovable property. The contention of the assessee is that the transfer of immovable property is within the family i.e. from the assessee to his mother-in-law. Though, there was no actual exchange of cash between the assessee and his mother-in-law; while executing sale deed it was inadvertently mentioned therein that, "Rs. 24,21,000/- paid cash in advance". As per the assessee, consideration for purchase of house in 2005 was in fact paid by father in- law of the assessee. The assessee had taken loan for part payment of consideration i.e. Rs. 4.5 lakhs and that to, the assessee had taken loan from Punjab National Bank. In support of his contention the assessee has placed on record copy of loan letter dated 01.12.2005 from Punjab N....