PRAVEEN SANJIV,CHENNAI vs. ITO, NCW-7(3), CHENNAI

ITA 3834/CHNY/2025Status: DisposedITAT Chennai17 March 2026AY 2015-16Bench: Shri S.S. Viswanethra Ravi (Judicial Member), Shri S.R. Raghunatha (Accountant Member)1 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that Section 56(2)(vii)(b) is not applicable as there was no difference between the sale consideration and the stamp duty value, and the full consideration was paid via banking channels. The Tribunal further held that Section 69 is also not applicable as the investment was recorded and the consideration was explained through banking channels.

What were the facts?

The assessee acquired two immovable properties, and the Assessing Officer (AO) made additions under Section 56(2)(vii)(b) and alternatively under Section 69 of the Income Tax Act, 1961, alleging non-disclosure and non-payment of full consideration within the financial year. The CIT(A) remanded the matter back to the AO without adjudicating on merits.

What were the issues?

Whether the addition made by the Assessing Officer under Section 56(2)(vii)(b) and alternatively under Section 69 of the Act was justified when the full consideration was paid through banking channels and no discrepancy was found with the stamp duty value.

Which sections of the Income-tax Act were involved?

Section 56(2)(vii)(b),Section 69,Section 148,Section 148A(d),Section 251(1)(a),Section 250(6),Section 69A

AI-generated summary — verify with the full judgment below

Before: Shri S.S. Viswanethra Ravi & Shri S.R. Raghunatha

Hearing: 18.02.2026Pronounced: 17.03.2026

PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER:

This appeal filed by the assessee is directed against the order dated 05.12.2025 passed by the ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre [NFAC], Delhi for the assessment year 2015-16. 2. Ground No. 1 raised by the assessee is general in nature and requires no adjudication.

3.

Ground No. 6 to 10 raised by the assessee in challenging

The order continues below.

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