Rajender Agarwal Vs ACIT (ITAT Delhi)
The appeal filed by Rajender Agarwal against the order of the ld. CIT(A)-24, New Delhi dated 14.03.2019 for the Assessment Year 2014-15 revolves around the confirmation of an addition of Rs. 78,85,851 as non-genuine long-term capital gain. The key contention of the assessee is that the assessment should have been made under Sections 153A and 153C of the Income Tax Act, rather than under Section 143(3). Additionally, the appellant questions the validity of the addition, citing lack of evidence and violation of natural justice.
Background:
- The appellant declared income of Rs. 14,48,100, which was processed under Section 143(1).
- The case was selected for scrutiny assessment, and an order was passed on 30.12.2016, assessing the income at Rs. 94,12,810 with an addition of Rs. 79,64,709 on account of alleged bogus long-term capital gains.
- The appellant challenges the assessment, arguing that it should have been framed under Sections 153A and 153C.
Grounds of Appeal:
The appellant’s grievances include:
- Confirmation of the addition of Rs. 78,85,851 as non-genuine long-term capital gain.
- Alleged lack of evidence supporting the addition.
- Violation of principles of natural justice in confirming the addition based on investigations without providing relevant material or cross-examination opportunity.
- The confirmation of a commission of Rs. 78,858 on presumptive grounds.
Additional Grounds Raised:
The appellant, through a letter dated 15.05.2023, raised an additional ground questioning the jurisdiction of the assessment under Section 143(3) instead of Section 153A read with Section 153C.
Analysis of Additional Ground:
