Parveen Parvez Motlekar Vs Assessment Unit Income Tax Department (ITAT Mumbai)
The appeal before the Income Tax Appellate Tribunal Mumbai concerned an assessee challenging an order dated 19.06.2025 passed by the National Faceless Appeal Centre under Section 250 of the Income Tax Act, 1961 for Assessment Year 2015–16. The appeal raised multiple grounds, including the validity of reassessment proceedings under Section 148, additions under Section 69 for unexplained investment, and additions under Section 56(2)(vii)(b)(ii) relating to immovable property.
Ground No. 1, which challenged the validity of the initiation of reassessment proceedings under Section 148, was dismissed by the Tribunal due to the absence of arguments or written submissions from the assessee.
Grounds 2 to 4, which were interconnected, related to additions made under Section 69 and Section 56(2). The facts revealed that the assessee, along with her parents, had purchased a flat in Andheri West, Mumbai, through a registered agreement dated 20.02.2015 for a total consideration of Rs. 75,77,500. However, the stamp duty authority valued the property at Rs. 1,83,14,000, resulting in a difference of Rs. 1,07,36,500.
Based on this difference, the Assessing Officer (AO) made additions under Section 69 by attributing one-third of the fair market value difference, amounting to Rs. 35,78,833, as the assessee’s share of unexplained investment. Additionally, one-third of the declared purchase price, i.e., Rs. 25,25,833, was also added, leading to a total addition of Rs. 64,19,999.
