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01-11-2019, Jatinder Pal Singh, Section 132, 133(6), 131, 173, Tribunal Delhi

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6 months 3 weeks ago #11309 by amit
Section - 132, 133(6), 131, 173, 68
Order Date - 01-11.2019
Favouring - Revenue
Court - Tribunal Delhi
Appellant - Jatinder Pal Singh
Respondent - DCIT
Citation - 1119Taxpundit52
Appeal No. - ITA.No.621/Del./2015
Asstt. Year - 2011-2012



This appeal by Assessee has been directed against the Order of the Ld. CIT(A)-XXXII, New Delhi, Dated 14.11.2014, for the A.Y. 2011-2012.

2. We have heard the Learned Representatives of both the parties and perused the material on record.

3. A search was conducted by CBI on 22.4.2010 on the premises of the assessee. The information was forwarded to the Income Tax Department. A search and seizure operation under section 132 of the Income Tax Act, 1961 was conducted by Director of Income Tax (Inv ), New Delhi at the residential and business premises of assessee on 22.04.2010, This case was centralized. The assessee filed return of income of Rs.27,24,710/-. Statutory notices were issued for completion of the assessment. The CBI had seized Rs.2 crores during their search action on 22.4.2010. Statement on oath was recorded by the DDlT (Inv.),Delhi, wherein certain questions asked relating to cash lying at the residential premises, the extract of the relevant portion of the statement are reproduced in assessment order. The assessee in answer to the questions stated that about Rs.15 Lakhs is at his residence and Rs.2 Crore is in his office which is located in the ground floor. Out of Rs.15 lacs, a sum of Rs.10 Lakhs belongs to company namely M/s Nau Nidh Overseas Pvt. Ltd. and Rs.5 Lakhs is his personal account. The assessee has received Rs.2 Crores as advance with regard to his agricultural land at Faridabad which he intend to sell the land is small plots. He has further stated that One Mr. Sharma has given him Rs.2 Crores as advance for the said property. He came with two people whose names he will provide later on. The assessee also stated that he has met Mr. Sharma four times in Oberai Hotel and assessee do not know his exact address who is well known in Faridabad. Mr. Sharma approached the assessee for purchase of the land. The assessee has been promised final settlement within next 2-3 days. No provisional agreement was signed. However, assessee had issued a receipt for the same, for which, assessee is not possessing the receipt. The assessee further stated in his statement that agreed price of sale of land is Rs.6 Crores measuring 50 Acres which has possession dispute, for which, he has no evidence. During the course of assessment proceedings, the assessee filed a reply stating that Rs.2,01,00,000/- was received as advance against the property. No further details giving the name/ address of the person from whom this money was received were provided. The mode of payment was also not mentioned. The A.O. asked the assessee to furnish name, complete address, mode of receipt, PAN and copy the bank statements of the person concern and confirmation in support of the same. The assessee filed reply giving the details of the cash advance received from Shri Rahul Ahuja of East of Kailash, New Delhi along with PAN through broker Mr Sharma i.e., Mr Sanjeev Kumar Sharma resident of Ranjeet Nagar, Near South Patel Nagar Metro Station, New Delhi. The A.O. issued notice under section 133(6) of the I.T. Act to Shri Rahul Ahuja asking for the following details/documents.

1. Please inform the nature of transaction that took place with the above named person.

2. Copy of agreement with the above named person.

3. Execution of the agreement

4. Present status of the transaction.

5. Copy of bank statement for the above period high lighting the transaction with the above transaction.

6. Copy of ITR for the assessment year 2011-12.

3.1. On 22.01.2013 Counsel for Assessee attended on behalf of Shri Rahul Ahuja and filed the copy of the MOU dated 12.04.2010 entered with the assessee for purchase of agriculture land situated at District Faridabad. It was also stated that Shri Rahul Ahuja made payment of Rs.2.01 Crores to the assessee in cash. The same was withdrawn by him from his bank account, the copy of the same was filed. The copy of the ITR acknowledgment of Shri Rahui Ahuja for A.Y. 2011-12 was also furnished. The copy of the bank statement of the account with Axis Bank was also enclosed. The A.O. asked the Counsel for assessee to furnish the following details in respect of the advance money given:-

1. Cash book for the period when Rs 2.01 Crores was paid to Assessee

2. Also to produce the original MOU and receipts.

3. Inform about Shri Sharma, whether he is connected with this land deal. His full name/address.

4. Audit report with balance sheet, P & L Account for the previous year.

3.2. On 30.01.2013, the Counsel for Rahul Ahuja filed written submission stating that payment of Rs.21 Lakhs and Rs.1.80 Crores in cash were made to assessee on 12.04.2010 and 21.04.2010 respectively. It was also stated that source of these payments were the withdrawals made

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