SH. SARANJIT SINGH,PATIALA vs. ACIT, CENTRAL CIRCLE -2, CHANDIGARH
In the result, the appeals of the assessees stand allowed
ITA 384/CHANDI/2022[2011-12]Status: DisposedITAT Chandigarh12 Aug 2024AY 2011-12
Bench: Shri Sanjay Garg & Shri Krinwant Sahayआयकर अपील सं./ Ita Nos. 381 & 382/Chd/2022 "नधा"रण वष" / Assessment Years: 2009-10 & 2011-12 Shamsher Singh, Vs. The Acit बनाम Central Circle-2, 11-A, Gen Chanda Singh Chandigarh Colony, Patiala 147001 "थायी लेखा सं./Pan No: Ahjps3586P अपीलाथ"/ Appellant ""यथ"/ Repsondent & आयकर अपील सं./ Ita Nos. 383 & 384/Chd/2023 "नधा"रण वष" / Assessment Years: 2009-10 & 2011-12 Vs. The Acit Saranjit Singh, बनाम Centralcircle-2, 11-A, Gen Chanda Chandigarh Singh Colony, Patiala 147001 "थायी लेखा सं./Pan No: Amwps9575J अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Hybrid Hearing )
For Appellant: Shri Rohit Kapoor, CA and Shri Vir Sain Aggarwal, CAFor Respondent: Smt. Kusum Bansal, CIT DR
Section 132Section 153ASection 250
142A of the Income-tax Act, 1961 –
Undisclosed investments [Investment in land and buildings] -
Assessment year 2006-07 – During relevant year, assessee made some investment in land and building – Assessing Officer referred matter to DVO who valued land and building at a higher amount -
In view of difference between disclosed investment of assessee in purchase of property
