Sh. Mukesh Kumar Garg Vs Income Tax Officer

Parties Involved

Facts Summary

In this case, the Income Tax Officer issued a notice under section 148 based on information regarding an investment of Rs.1,05,29,860/- towards the purchase of a flat from M/s ASM India Infraheights Ltd. The assessee denied making any such investment and requested verification from the Registrar or the builder. The Officer of Assessment made an addition of Rs.1,05,29,860/- towards unexplained investment in the flat. The assessee appealed against this order to the Commissioner of Income Tax (Appeals) who dismissed the appeal ex-parte. The assessee further appealed to the Income Tax Appellate Tribunal.…

Legal Issues

• 1. Whether the addition of Rs.1,05,29,860/- towards unexplained investment in the flat is sustainable?

Judgment Outcome

Decided in favour of Assessee.

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