Jabbar Khan Vs. National Faceless Assessment Centre

Parties Involved

Facts Summary

The case pertains to the assessment year 2014-15. The assessee, Jabbar Khan, had an alleged investment of Rs.16.73 lakhs which was treated as unexplained by the lower authorities. The assessee claimed that he had co-purchased an immovable property with his brother, Shri Abbas, for the impugned sum. Therefore, it was presumed that they acquired the property in equal shares. The Revenue could not dispute the possibility of accumulated past savings of the assessee and his family.…

Legal Issues

• 1. Whether the alleged investment of Rs.16.73 lakhs should be treated as unexplained.
• 2. Quantification of the impugned addition.

Judgment Outcome

Decided in favour of Assessee.

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