DCIT, Central Circle, Delhi vs. Pooja Mittal

Parties Involved

Facts Summary

A search and seizure operation was carried out at the premises of Sh. Navneet Dawar, Sh. Anil Narang (Proprietor of M/s. Unique Associates) and Sh. Gurvinder Duggal. During the course of survey proceedings, a photocopy of an agreement to sell dated 20.04.2013 was found, signed only by the assessee Smt. Pooja Mittal for the sale of land situated at Revenue Estate of Village Fatehpur Beri, Tehsil Mehrauli, New Delhi to sell the property to Anil Narang for Rs.7,06,00,000/-. Based on this document, a statement of the assessee was recovered who confirmed that she had received Rs.1 crore in cash as advance along with cheques for the sale consideration. The Assessing Officer (AO) treated the balance of Rs.7,20,00,000/- as unexplained money u/s.69A of the Act. On appeal, the Ld. Commissioner of Income Tax (Appeals)/NFAC deleted the addition. The revenue is in appeal against this decision.…

Legal Issues

• 1. Addition of Rs. 7,20,00,000/- u/s 69A of the Income Tax Act

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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