Case Law Details
Ms. Nikunj Malik Vs ITO (ITAT Delhi)
It is well settled law that contents of the registered document cannot be disputed through oral evidence. On the face of the registered sale deed, it is established that assessee made an investment in cash in purchase of property for a sum of Rs.42 lakhs and other amount was spent for stamp duty etc. The assessee is, therefore, under an obligation to explain the source of investment in the above property. The assessee instead of explaining the source of investment in property, came up with another explanation that it was the property of her father which was given on GPA to her mother who has executed the sale deed in favour of the assessee which was in fact a gift deed.
The explanation of assessee is rebutted by the A.O. in the remand report because the Sub-Registrar who has registered sale deed in question has reported that in case of gift of immovable property, the property should have been registered under a different head. The property in question is registered as sale deed for a cash consideration of Rs.42,90,000/-. Thus, the claim of assessee cannot be accepted and appears to be an afterthought. The assessee did not produce any evidence on record in support of any of the contradictory explanation made before A.O. or before Ld. CIT(A).
The Ld. CIT(A) on examination of the GPA found that mother of the assessee was holding GPA for several properties and was authorized to execute the sale deed. There is no bar on GPA Holder to execute sale deed in Law when he is authorised to execute sale deed. Therefore, there is no infirmity in the orders of the authorities below in making and confirming the addition. Even before the Tribunal, assessee failed to explain the source of the investment in the above property. Therefore, assessee miserably failed to substantiate any of her explanation through any evidence or material on record. The appeal of assessee has no merit and the same is accordingly dismissed.
FULL TEXT OF THE ITAT JUDGMENT
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