PARVESH MITTAL,HARYANA vs. ITO,WARD 5(2)(4), NOIDA
Before: SHRI SATBEER SINGH GODARAAssessment Year: 2012-13 Sh. Parvesh Mittal, 43, Sector-8, Faridabad, Haryana Vs. Income Tax Officer, Ward-5(2)(4), Noida PAN :AAAPM1071F (Appellant)
This assessee’s appeal for assessment year 2012-13, arises against the Commissioner of Income Tax (Appeals)/National
Faceless Appeal Centre [in short, the “CIT(A)/NFAC”], Delhi’s DIN and order no. ITBA/NFAC/S/250/2023-24/10581411208(1), dated 22.11.2023 involving proceedings under section 144 of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’).
Case called twice. None appears at the assessee’s best. He is accordingly proceeded ex-parte.
2. It next transpires during the course of hearing with the able assistance coming from the Revenue side that both the learned lower authorities have invoked section 50C r.w.s. 144of the Act to Assessee by Sh. None
Department by Sh. Akhilesh Kumar Yadav, Sr. DR
Date of hearing
03.06.2025
Date of pronouncement
03.06.2025
2 | P a g e hold the assessee’s investment in an immovable property of Rs.30,18,750/-; as unexplained, in the course of assessment framed on 21.11.2019 and upheld in the lower appellate discussion.
3. That being the clinching case, this tribunal is of the considered view that both the learned lower authorities’ impugned action invoking section 50C for the purposes of making unexplained investment addition is not sustainable, as the same is applied only in case of sale/transfer of land and building than an investment made therein. That being the case, the impugned addition is deleted for the precise reason alone.
4. This assessee’s appeal is allowed.
Order pronounced in the open court on 3rd June, 2025 (SATBEER SINGH GODARA)
JUDICIAL MEMBER
Dated: 3rd June, 2025. RK/-