Rajesh Gandhi and Ramesh Gandhi vs Sanghpriya Singh, DCIT

Parties Involved

Facts Summary

The original return of income under section 139(1) of the Act was e-filed by the assessee on 21.08.2013 declaring income of Rs. 1,70,410/-. The AO noted that the major source of income of the assessee was from business. A search and seizure action u/s 132 of the Act was carried out on 14.10.2020 in the case of Sh. Manoj Kumar Singh and his close associates. During the search proceedings at the residence of Sh. Narendra Mantri, a part payment receipt dated 21.05.2011 for the purchase of property was found and seized. The said flat was purchased by Smt. Sangita Mantri from Sh. Rajesh Gandhi and Sh. Ramesh Gandhi for a total consideration of Rs. 98,00,000/-. The AO made an addition of Rs. 68,00,000/- u/s 68 of the Act in the order passed u/s 153C r.w.s. 144 of the Act in the case of the assessee.…

Legal Issues

• 1. Validity of the assessment order framed u/s 153C of the Act for A.Y. 2012-13

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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