IN THE ITAT, DELHI BENCH
AMIT SHUKLA, J.M. & B.R.R. KUMAR, A.M.
GTM Builders & Promoters (P) Ltd. v. ACIT
ITA No. 3578/Del/2010 & SA No. 187/Del/2020
10 February, 2021
Assessee by: K. Sampath, Advocate
Revenue by: Sunita Singh, Commissioner--Departmental Representative
B.R.R. Kumar, A.M.
The present appeals have been filed by the assessee and the revenue against the order of learned Commissioner (Appeals)-I, New Delhi, dated 28-5-2010.
2. In ITA No. 3578/Del/2010, following grounds have been raised by the assessee :--
'1. The learned Commissioner (Appeals) has erred in law and facts in confirming the part addition of Rs. 3,01,00,000 out of the total additions of Rs. 6,84,50,134 made on account of the undisclosed investment in land alleging that there was a nothing in seized dairy (Annexure A 21 page 9) indicating the cash payment of Rs. 3,01,00,000 made by the appellant ignoring the submissions of the appellant. The action of the learned Commissioner (Appeals) is arbitrary, unjustified and against the provisions of law.
2. The learned Commissioner (Appeals) has erred in law and facts in not appreciating the facts that the appellant has not made the cash payment of Rs. 3,01,00,000 apart from the amount mentioned in the registered purchase/sale deed for the investment in the purchase of land. Further, before the tax authority, the person who is alleged to had received the cash payment had confirmed that he had not received any amount over and above the consideration stated in the sale deed. Therefore, the learned Commissioner (Appeals) is not justified in confirming the additions of Rs. 3,01,00,000 in the hands of the appellant.