Satpal Darshan Singh Bhinder vs. Income Tax Officer

Parties Involved

Facts Summary

The assessee, Satpal Darshan Singh Bhinder, purchased an immovable property for Rs.70,20,000 during the year under consideration. The stamp duty value of the property was Rs.74,25,000, and the Departmental Valuation Officer determined the value at Rs.72,10,000. The Assessing Officer observed a difference of Rs.1,90,000 and made an addition under Section 56(2)(vii)(b) of the Income-Tax Act, 1961. Additionally, the Assessing Officer made an addition of Rs.70,20,000 under Section 69 of the Act for unexplained investment. The assessee appealed against these additions and the rejection of the request to condone delay in filing the appeal. The Commissioner of Income-tax (Appeals) confirmed the additions and rejected the appeal.…

Legal Issues

• 1. Rejection of request to condone delay in filing the appeal
• 2. Addition of Rs.1,90,000 under Section 56(2)(vii)(b) of the Income-Tax Act, 1961
• 3. Addition of Rs.70,20,000 under Section 69 of the Income-Tax Act, 1961

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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