Daulat Singh Haldea Vs ITO (ITAT Jaipur)
The appeal in Daulat Singh Haldea Vs ITO (ITAT Jaipur) relates to the Assessment Year 2012-13. The assessee challenged the order dated 22.09.2025 passed by the Commissioner of Income Tax (Appeals), NFAC, which partly allowed his appeal against the assessment order dated 11.12.2019 passed under Sections 143(3) r.w.s 147 of the Income Tax Act, 1961. The original assessment had computed the total income of the assessee at ₹1,62,73,460, comprising income from house property, short-term capital gains, income from other sources, and long-term capital gains. The order also included deductions under Section 80C and imposed interest and penalty notices under Sections 271(1)(b) and 271(1)(c).
The assessee had no grievance regarding the cost of indexation in respect of the sale of immovable property or the exemption claimed under Section 54EC for investment in tax-free bonds of REC and NHAI, as the CIT(A) had already directed the Assessing Officer to verify relevant documents and allow exemptions accordingly.
The primary grievance of the assessee concerned the disallowance of transfer expenses relating to the sale of the immovable property as per the sale deed dated 23.05.2011. The show-cause notice issued on 05.12.2019 required the assessee to substantiate transfer expenses of ₹5,00,000. The assessment order noted that the assessee did not furnish any documents to support the claim of transfer expenses, cost of indexation, or the exemption of ₹93,00,000. The CIT(A) and AO disallowed the transfer expenses claim due to lack of evidence. The assessee admitted that he could not trace proof of payment to any broker and failed to provide cogent evidence at the appellate stage. Accordingly, the ITAT upheld the disallowance of transfer expenses as there was no merit in the claim.
