Jitendra Jashbhai Patel Vs. The Income Tax Officer

Parties Involved

Facts Summary

The assessee, Jitendra Jashbhai Patel, filed an appeal against the order dated 15.02.2024 passed by the Addl/JCIT(A)-4, Mumbai for the Assessment Year 2016-17. The assessee raised two grounds of appeal: (1) the order passed by the CIT(A) is against law, equity, and justice, and (2) the CIT(A) erred in law and on facts by not adjudicating for the addition made by the Assessing Officer of Rs.7,47,000/- under Section 56(2)(vii)(b) by ignoring material evidence on records. The assessee filed a return of income on 31.03.2017 declaring a total income of Rs.6,94,260/-. The Assessing Officer observed that the assessee, along with other co-owners, purchased a plot of land for a consideration of Rs.45,00,000/-. The Assessing Officer referred the matter to the DVO to determine the value of the land, but since the DVO did not file a report, the Assessing Officer made an addition of Rs.7,47,000/- under Section 56(2)(vii)(b) of the Income Tax Act, 1961.…

Legal Issues

• 1. Whether the order passed by the CIT(A) is against law, equity, and justice.
• 2. Whether the CIT(A) erred in law and on facts by not adjudicating for the addition made by the Assessing Officer.

Judgment Outcome

Decided in favour of Assessee.

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