The Delhi bench of the Income Tax Appellate Tribunal ( ITAT )observed that the Income Tax Addition was upheld without Application of Mind and deleted the addition. It was viewed that the authorities below have again passed the very same order without proper application of mind
Sh. Anil Jain appeared for the appellant and Sh. Om Prakash appeared for the respondent.
The Assessing Officer ( AO ) received information that the assessee, Shiv Kumar Nayyar, has invested in immovable property bearing no. Ground Floor, Commercial Space measuring 750 Sq. Yards situated at Indirapuram Habitat Centre, Ghaziabad jointly with Sh. Neetu Nayyar for the total amount of Rs. 23,06,220/-, out of which Rs. 13,83,750/- was paid in cash. Thereafter, after recording reasons, proceedings under section 147 of the Act were initiated and notice under section 148 of the Act was issued. Subsequently, the assessment was completed vide order under section 147 r.w.s. 143(3) dated 12.03.2013 at an assessed income of Rs. 18,39,120/- after making additions on account of investment made in cash in immovable property and Addition to capital account from undisclosed sources of income.
With regard to household expenses and the expenses incurred on the education of the 2 minor children, it is submitted that these expenses have been met from the income of my wife Smt. Honey Nayyar, my HUF Shiv Kumar & Sons from rental income of Rs. 180,000/- and rental income of my HUF of Rs. 180,000/-. These can be evidenced by the copy of the IT Return of my wife and my HUF Shiv Kumar & Sons which has already been filed with the AO.
A single-member bench comprising of Shri Shamim Yahya, Accountant Member viewed that the authorities below have again passed the very same order without proper application of mind. The Tribunal set-aside the order of the authorities below and deleted the addition.
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