Section 147 Assessment

The Assessee is an HUF having income from House Property. The Assessee has purchase a property from Omaxe Ltd on which a Search and Seizure was conducted. A notice was issued to Assessee on the basis of books of Omaxe Ltd which shows Cash Payment to Assessee which is multiplied by Income Tax Authorities by 100 as mentioned in the notice. Now the notice U/s 148 as well as assessment U/s 147 is done by Jurisdictional Assessing officer clearly showing his Ward in the Assessment order and not by NFAC although he has issued a letter that it will be…

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  Difference cash unexplained treatment f.y.24-25

Sir, A Doctor cash on hand balance physical verification match to account Book records difference rs:8 lacs amount show f.y.24-25 as on dt:28-02-25 Question: Assessess difference cash amount rs:8 lacs unexplained cash adjusted procedure f.y.24-25

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  Cash paid to builder for acquiring residential flat

The Assessee paid 3.69 lakhs as cash to builder for acquiring flat. Since he was a salaried employee no balance sheet was prepared while filing return of income. The assessee submitted that the cash was paid out of drawings from the bank and provided bank statement showing the cash withdrawals. However the A O made addition as per provision of section 69 stating it is a clear cut case of unexplained investment. Now the assessee is in appeal against the order.Any guidance or case laws for deletion of the addition.

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