Vijyaben Ramnikbhai Trambadiya vs. ITO WD 2, JND

Parties Involved

Facts Summary

The assessee, Vijyaben Ramnikbhai Trambadiya, did not file her return of income for the assessment year 2012-13. The Department noticed that during the relevant previous year, the assessee had purchased a residential flat on which an 'on-money' payment of Rs. 4,20,000 was made. The case was reopened after recording the reasons regarding income escaping assessment under Section 147 of the I.T. Act, 1961. The assessee filed a return of income declaring total income of Rs. 1,09,200. The assessing officer observed that the assessee had purchased a residential flat from M/s Arjun Corporation, showing the amount of purchase consideration of Rs. 4,95,000. A search proceeding revealed a diary of the project Shridhar Appartment-A and B, which indicated that the actual sale consideration of the flat was Rs. 9,15,000. Therefore, the assessing officer noted that the assessee had paid an 'on-money' of Rs. 4,20,000 to M/s Arjun Corporation for the purchase of the said flat over and above the registered price. The assessee appealed against the order of the assessing officer, which was confirmed by the Commissioner of Income-tax (Appeals). The assessee then appealed to the Income Tax Appellate Tribunal.…

Legal Issues

• 1. Whether the ld. CIT(A) erred in law and facts for confirming to issue of notice u/s 148 of the I.T. Act, 1961?
• 2. Whether the ld. CIT(A) erred in law and facts for confirming the Addition by Assessing Officer Rs. 4,20,000/- u/s 69B of the I.T. Act?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

Similar Judgements

• Dipa Prakashkumar Velani vs. Assessment Unit through Jurisdictional Assessing Officer, Income Tax Officer, Ward-1(2), Bhavnagar

  Ahmedabad bench

• Mr. Suranjan Roy vs. ITO, Ward 62(1), Kolkata

  Kolkata Bench benchAY 2016-17Dismissed

• Anil Chotelal Agarwal vs. ITO, Ward 6(2)(1) Mumbai

  Mumbai bench

• Rajesh Gandhi and Ramesh Gandhi vs Sanghpriya Singh, DCIT

• Devangi Vivek Pandya vs. ITO

  Ahmedabad bench

• Hans Raj vs. Joint Commissioner of Income Tax

  Delhi Bench benchAY 2017-18Allowed