SMT. RAMKALA,GURGAON vs. ITO, REWARI

Briefly stated, the facts of the case are that the AO received some AIR information about the assessee depositing a sum of Rs.13,50,000/- in her bank account with Corporation Bank, Circular Road, Rewari. In the absence of any proper service of notice, and the consequential non-participation by the assessee in the assessment proceedings, the AO made addition of Rs.13,50,000/- u/s 144 of the Act. The ld. CIT(A) affirmed the same. The assessee is aggrieved against such addition.

I have heard the parties and perused the relevant material on record. It is noticed that this appeal is related to the appeal of Shri Ami Lal Yadav (ITA No.1896/Del/2016) which came up for consideration before the Tribunal. The assessee is one of the co-owners who transferred the property to Shri Kanwar Singh for a stated consideration of Rs.24.22 lac along with the assessee in the above case. The Tribunal noticed in that case that the property was, in fact, sold for Rs.92.03 lac and the amount was, accordingly, received, which was deposited in the bank account on the relevant dates. That is how, the tribunal vide its order dated 27.09.2016, deleted the addition made in the hands of that assessee. As the facts and circumstances of the instant appeal, being the other co-owner of the property, are mutatis mutandis similar, following the view taken by the Tribunal in the case of Ami Lal Yadav (supra), I order for the deletion of the addition.

In the result, the appeal is allowed.