SHRI VISHWAMBHARAN BHASKARAN,TRIVANDRUM vs. THE DCIT ( INTERNATIONAL TAXATION), TRIVANDRUM

O R D E R Per Bench This assessee’s appeal for A.Y. 2014-15 arises against the CIT(A)’s DIN No. ITBA/ APL /M/250/2023-24/1053145279(1) dated 24.05.2023 in proceedings u/s. 250 of the Income Tax Act, 1961 (the Act).

Case called twice. None appears at assessee’s behest. We accordingly proceed exparte.

Viswambharan Bhaskaran 3. We note with the able assistance coming from the Revenue side that the learned Assessing Officer’s computation in para 2.8 has duly considered the assessee’s sales proceeds derived from transfer of an immovable property amounting to Rs.18,46,000/- in the relevant previous year. The necessary inference which arises accordingly is that although not strictly proved on the assessee’s behest, a portion of the impugned cash deposits on-money component in the said transaction could not be altogether ruled out. This tribunal in Mrs. Malini Ramnath Rele vs. ITO [1994] 491 ITD 43 (Mum.) (TM) has also decided such an issue based on presumptions of on- money against the department. The fact, however, remains that the assessee has also not been able to plead and prove his case regarding on-money receipts of Rs.30,90,800/- all along. Faced with this situation, we deem it a fit case to partly accept the assessee’s instant sole substantive ground to the extent of Rs. 10,90,800/- and uphold the balance addition amount of Rs.20,00,000/- in very terms subject to a rider that the same shall not be treated as a precedent. Necessary computation for the purpose of making addition of Rs. 20,00,000/- shall follow.