2025 (3) TMI 1941

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.... The instant appeal filed by the assessee is directed against the order dated 13.09.2024 passed by the National Faceless Appeal Centre (referred in short as "NFAC") for A.Y. 2012-13. 2. The assessee, an individual filed its return of income on 20.07.2012 declaring income at Rs. 1,89,980/-. The case of the assessee was re-opened under Section 147 of the Act and upon completion of procedural form....

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....of the funds used for purchase of the property was directed to explain whereupon it was submitted that Assessing Officer accepted the explanation for the amount of Rs. 18,66,815/- paid via demand draft No.05/05/2011 and the source of this fund was a combination of her past savings and financial support from her father and spouse. Though the same was accepted the source of remaining investment of R....

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....es in cash over and above the registered amount in the same way. 4. On the other hand the matter the appellant's contentions before the Ld. CIT(A) and before us as well as in this that no payments were made beyond the amount recorded in the registered sale deed but the same was not found satisfactory and he, therefore, upheld the addition made by the Ld. Assessing Officer. 5. After careful c....