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Judgment
PER VIKAS AWASTHY, JUDICIAL MEMBER:
This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi [in short ‘the CIT(A)’] dated 10.07.2026, for Assessment Year 2016-17.
Ms. Shruti Gupta, appearing on behalf of the assessee submits that the assessee in appeal has assailed addition of Rs.35,27,179/- u/s.69 r.w.s 115BBE of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) confirmed by the CIT(A). The ld. Counsel submits that the assessee jointly with her son had purchased an immovable property for a total consideration of Rs.2,20,00,000/-. The assessee explained the source of funds to the extent of her one half share i.e. Rs.1,10,00,000/- for purchase of said property. The Assessing Officer (AO) accepted source of funds to extent of Rs.79,12,821/- and made addition of the balance amount of Rs.35,27,179/- u/s. 69 of the Act as unexplained investment. The ld. Counsel submits that the assessee had furnished bank statements of J&K Bank and Axis Bank in the name of assessee as additional evidences before the CIT(A) to explain the source of balance investment. The CIT(A) without considering the same confirmed the addition made by the AO. The ld. Counsel prayed for considering the additional evidences filed by the assessee.
Per contra, Shri Manoj Kumar representing the department relying on findings of CIT(A) prayed for dismissing appeal of the assessee.
Both sides heard, orders of the lower authorities examined. The limited prayer made by the ld. Counsel for the assessee is that the bank statements of J&K Bank and Axis Bank filed before the CIT(A) as additional evidences were not considered. Considering entire facts of the case, I deem it appropriate to restore this issue back to the AO to pass the assessment order denovo, after considering the additional evidences filed by the assessee before the CIT(A) and any other relevant documentary evidences furnished by the assessee to explain remaining source of investment. The AO after considering the documentary evidences placed on record by the assessee, shall delete the addition to the extent source of investment is proved. The AO shall grant reasonable opportunity of making submission to the assessee, in accordance with law.
In the result, impugned order is set aside and appeal of the assessee is allowed for statistical purpose.