RAKESH KOCHHAR ,CHANDIGARH vs. DCIT/ACIT - CIRCLE1(1) CHD, CHANDIGARH

IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, CHANDIGARH PHYSICAL HEARING HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकर अपील सं. / ITA No.1192/CHANDI/2025 (िनधा�रण वष� / Assessment Year: 2019-20) Shri Rakesh Kochhar DCIT/ACIT – Circle 1(1) 3073, Sector – 21-D बनाम/ Vs. Aaykar Bhawan Chandigarh 160022 Chandigarh �ायीलेखासं./जीआइआरसं./PAN/GIR No. AEUPK-0218-G (अपीलाथ�/Appellant) : (��थ� / Respondent) अपीलाथ�कीओरसे/ Appellant by : Sh. Parikshit Aggarwal (CA) – Ld. AR ��थ�कीओरसे/Respondent by : Sh. Dr. Ranjit Kaur (Addl. CIT) – Ld. Sr. DR सुनवाईकीतारीख/Date of Hearing : 09-04-2026 घोषणाकीतारीख /Date of Pronouncement 10-04-2026 : आदेश / O R D E R 1. Aforesaid appeal by assessee for Assessment Year (AY) 2019- 20 arises out of an order of learned Commissioner of Income Tax (Appeals), NFAC [CIT(A)] dated 17-07-2025 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s 147 of the Act on 26-03-2024. Having heard rival submissions and upon perusal of case records, the appeal is disposed-off as under. 2. In the assessment order, Ld. AO made allegation of on-money payment by the assessee and made addition of Rs.8.09 Lacs in the hands of the assessee. The allegation stem from search action by the department u/s 132 on Omaxe Group on 14-03-2022. The information

/ seized material indicated on-money payment by the assessee for Rs.8.09 Lacs towards purchase of flat by him in their project. Accordingly, the case was re-opened and the issue was confronted to the assessee. The assessee filed various replies. In reply dated 09- 03-2024, the assessee admitted to such payment but stated that this amount was received in Gift from his elder brother Shri Rajesh Kumar Kochar who worked as Senior Scientist and derived income from various sources like pension, rental income and interest income. The copies of two gift deeds were also furnished and prayer was made not to make the proposed addition. However, continuing with its allegation, Ld. AO added the amount of Rs.8.09 Lacs u/s 69. The Ld. CIT(A) confirmed the addition, inter-alia, on ground that the gift deeds lacked credibility. Aggrieved, the assessee is in further appeal before Tribunal. 3. From enumerated facts, it clearly emerges that the assessee has made cash payment of Rs.8.09 Lacs to Omaxe Group. However, the assessee has furnished ample documentary evidences to explain the source of the payment. The same include copies of gift deeds from his elder brother which has not, at all, been considered by Ld. AO. The onus of the assessee was to explain the source of payment which was duly discharged by the assessee. In the absence of any rebuttal to these documents, the source of the payment could not be doubted. On these facts, the impugned addition of Rs.8.09 Lacs as made by Ld. AO stand deleted. No other ground has been urged in the appeal.

-Sd- (MANOJ KUMAR AGGARWAL) ACCOUNTANT MEMBER AS Dated: 10-04-2026 आदेश की �ितिलिप अ�ेिषत /Copy of the Order forwarded to : 1. अपीलाथ�/Appellant 2. ��थ�/Respondent 3. आयकरआयु�/CIT 4. िवभागीय�ितिनिध/DR 5. गाड�फाईल/GF

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