ACIT, CIRCLE CC 15, NEW DELHI vs. ALKA MENDIRATTA , DELHI

ITA 1864/DEL/2021Status: DisposedITAT Delhi08 March 2024AY 2016-17Bench: Dr. B. R. R. Kumar, Accountant Member Ms. Astha Chandra (Judicial Member)59 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the addition was not sustainable as the assessee was not a party to the agreement to sell, which was cancelled and not executed. No evidence of payment by the assessee beyond the registered sale deed value was found.

What were the facts?

During a search, an agreement to sell a property for Rs. 40.06 crores was found. The Assessing Officer (AO) made an addition of Rs. 12.03 crores to the assessee's income as undisclosed investment, considering the higher value in the agreement to sell compared to the registered sale deed.

What were the issues?

Whether an addition can be made under Section 69 based on an unexecuted agreement to sell between third parties, without proof of payment by the assessee? Whether the assessment under Section 153A is valid without incriminating material belonging to the assessee?

Which sections of the Income-tax Act were involved?

Section 69,Section 115BBE,Section 153A,Section 153D

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Cases cited in this judgment(19)Show list

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Heard together (4 matters)

ITA No. 1863/Del/2021
CO No. 28/Del/2022
ITA No. 1864/Del/2021
CO No. 25/Del/2022

Read from the judgment's own cause title. This page is filed under one of them.

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘H’, NEW DELHI Before Dr. B. R. R. Kumar, Accountant Member Ms. Astha Chandra, Judicial Member ITA No. 1863/Del/2021 : Asstt. Year : 2016-17 Central Circle-15, House No. 10, Road No. 41, Punjabi New Delhi-110055 Bagh, New Delhi-110026 (APPELLANT) (RESPONDENT) PAN No. AAIPM3927A CO No. 28/Del/2022 : Asstt. Year : 2016-17 Central Circle-15, Bagh, New Delhi-110026 New Delhi-110055 (APPELLANT) (RESPONDENT) PAN No. AAIPM3927A ITA No. 1864/Del/2021 : Asstt. Year : 2016-17 Central Circle-15, House No. 10, Road No. 41, Punjabi New Delhi-110055 Bagh, New Delhi-110026 (APPELLANT) (RESPONDENT) PAN No. AALMP5560E CO No. 25/Del/2022 : Asstt. Year : 2016-17 Central Circle-15, Bagh, New Delhi-110026 New Delhi-110055 (APPELLANT) (RESPONDENT) PAN No. AALMP5560E Assessee by : Sh. Amit Goel, CA & Sh. Pranav Yadav, Advv. Revenue by : Ms. Sapna Bhatia, CIT-DR Date of Hearing: 14.02.2024 Date of Pronouncement: 08.03.2024

ITA Nos. 1863 & 1864/Del/2021 2 CO Nos. 25 & 28/Del/2

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