TaxTMI 
TaxTMI 
2025 (4) TMI 2105
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....WASTHY, JM: This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi (hereinafter referred to as 'the CIT(A)') dated 27.02.2024, for assessment year 2011-12. 2. The solitary issue in appeal is addition of Rs. 32,07,320/- made on account of unexplained cash deposits in the bank account of the assessee. ....
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.... defended the impugned order and prayed for dismissing appeal of the assessee. The ld. DR reiterating findings of the CIT(A) stated that it is highly improbable that a person would sell the land immediately after the purchase on same date. 5. Both sides heard, orders of the authorities below examined. The Assessing Officer (AO) made addition of Rs. 32,70,320/- in respect of cash deposits in the....
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....0/- drawn on Corporation Bank, Maruti Kunj, Bhondsi Branch, Gurgaon and Rs. 5,69,000/- was paid in cash. On the same very date the assessee sold part of aforesaid land to four different persons vide registered sale deeds of even date i.e. 27.10.2010 The assessee had received sale consideration for sale of land as under:- Registered sale deed no. Area of land sold Consideration(Received in....