Pankaj Malhotra C-91, South Extention, Part-2, New Delhi Vs. Income Tax Officer Ward 70(3) New Delhi
October, 07th 2020
This appeal filed by the Assessee is directed against the order dated 22.09.2017 of the Commissioner of Income Tax (A)- 21, New Delhi relating to Assessment Year 2008-09.
The relevant facts as culled from the material on records are as under:
Assessee is an individual stated to be having income from salary, capital gains, property etc. Assessee filed return of income for A.Y. 2008-09 on 31.07.2008 declaring total income of Rs.5,82,668/-. The return of income was initially processed u/s 143(1) of the Act. Subsequently, on the basis of information received by the AO from the Investigation Wing w.r.t cash payments for the purchase / booking of the property, the details of which according to the AO were not disclosed by the assessee in the return of income, notice u/s 148 of the Act was issued on 25.3.2015. Thereafter, the assessment was framed u/s 148/143(3) vide order dated 14.03.2016 and the total income was determined at Rs. 62,09,830/-. Aggrieved by the order of AO, assessee carried the matter before CIT(A) who vide order dated 22.09.2017 in appeal no. 21/2016-17 dismissed the appeal of the assessee. Aggrieved by the order of CIT(A), assessee is now before us and has raised the following grounds