RANJEET SINGH,PALWAL vs. INCOME TAX OFFICER, FARIDABAD

Delay of 45 days in filing of the instant appeal is condoned in the larger interest of justice and in light of Collector Land Acquisition vs. Mst. Katiji & Ors (1987) 167 ITR 471 (SC). 3. Coming to the sole substantive issue between the parties at the outset, it is evident that both the learned lower authorities have treated the assessee’s cash deposits of Rs.14 lakhs, dated 17th March, 2012 as unexplained in assessment order dated 30.11.2019 and upheld in the lower appellate discussion. 4. The Revenue could hardly dispute that the assessee’s father, Sh. Dhara Singh in fact had sold his agricultural lands along with joint co-owners which involved cash sale consideration of Rs.71,96,526/- as per sale deed dated 16th March, 2012 on record at pages 128 of the paper-book. The above being the clinching factual position, the only inference which would arise herein is that the assessee’s impugned cash deposits form part of the foregoing cash sale consideration as per Mrs. Malini Ramnath Rele Vs. Third Income-Tax Officer on [1994] 49 ITD 43 (TM) (MUM); and, therefore, the same is directed to be deleted in very terms. 5. This assessee’s appeal is allowed. 3 | P a g e