ITA No.1828/JPR/2025 Ankit Kumar Vs. ITO

Parties Involved

Facts Summary

The assessee, Ankit Kumar, had purchased Unit No. C-FF 12A in Capital Galleria Alwar for consideration of Rs.18,15,216/-. The assessee claimed to have taken Rs.11 lacs through Housing loan from HDFC Bank and balance of Rs.7,15,216/- by way of adjustment of commission income from R Tech Group. The Assessing Officer (AO) held that in absence of any corroborative evidence such as ledger, vouchers, receipts, or confirmation from the R Tech Group, the claim of adjustment of commission was not substantiated and accordingly, addition of Rs.7,15,216/- was made to the income of the assessee as investment made from unexplained sources. Further, during search proceedings under Section 132 of the Act conducted on R Tech Group, digital data retrieved revealed money of Rs.62,126/- allegedly paid in cash for the purchase of the aforesaid Unit. The AO added Rs.62,126/- also to the income of the assessee under Section 69 of the Act as unexplained investment resulting in a total addition of Rs.7,77,342/- to the income of the assessee which was taxed at the rate specified under Section 115BBE of the Act @ 60%.…

Legal Issues

• 1. The grounds raised by the appellant against the order passed by the National Faceless Appeal Centre, Delhi.

Judgment Outcome

Decided in favour of Assessee.

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