DCIT, CIRCLE-7(1), DELHI vs. MOHIT GUJRAL, DELHI

Asstt. Year : 2021-22 DCIT, Vs Mohit Gujral, Circle-7(1), 149-D, Okhla Industrial Estate, New Delhi-110002 S.O. Tehkhand, South East Delhi, New Delhi-110020 (APPELLANT) (RESPONDENT) PAN No. AAIPG2833M Assessee by : Sh. Rajiv Khandelwal, CA Revenue by : Ms. Baljeet Kaur, CIT-DR Date of Hearing: 05.12.2024 Date of Pronouncement: 12.12.2024 ORDER

Per Satbeer Singh Godara, Judicial Member:

“1. Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in allowing the additional evidences submitted u/s 46A by the assessee whereas sufficient opportunities were given by the AO during the assessment proceedings to submit the same and the assessee failed to do so?

2 Mohit Gujral 2. Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in accepting the revised computation of income filed by the assessee during the appellate proceedings ignoring the provisions of Section 119(2)(b) of the Act? 3. Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in accepting the additional ground taken by assessee regarding the correction in Income from Other Sources on account of Rs.3,04,55,000/- of interest income being inherently exempt in nature and Rs.1,60,65,484/- not taxable in his hands, whereas the assessee had opportunity to claim the same in the Original ITR as well as Revised ITR and he failed to do so? 4. Whether on the facts and circumstances of the case and in law, the Ld. CIT (A), Delhi has erred in accepting the asset under consideration as a Long Term Capital Asset and consequently treating the Capital Gain as 'Long Term Capital Gain' without verifying the ownership of the capital assets under consideration? 5. Whether on the facts and circumstances of the case and in law, the Ld. CIT (A), Delhi has erred in accepting the deployment of funds for purchasing the capital assets under consideration as stated to be made by the assessee without any enquiry.

6. Whether on the facts and circumstances of the case the CIT(A) erred in law and fact by accepting the transactions claimed by the assessee without verifying the actual flow of fund and transfer of ownership in the name of the assessee and subsequently in the name of the transferee.

7. Whether on the facts & circumstances of the case the CIT(A) erred in accepting the entries in the ledger of DLF as concluding evidence regarding ownership in place of registered sale deed.