Land registry by cash for income proof

You are committing mistake after mistake.  This is because, probably you just do not want to consult professionals before doing an act.

At least now, approach a Lawyer practising Tax laws  or Chartered Accountant with your documents, discuss the matter with him and then act after such consultation.  Yes, it will involve some expenditure towards professional fee.  That is worth spending otherwise you will have to spend after falling into trouble.

Hi R,

Thanks for your reply. I have consulted CA friend and as per his advice the registry is done to validate the agreement and to establ;ish the monies source.

I am in process of hiring a tax lawyer. I just wanted to have some advice regarding the same as my main intention is to provide source of cash deposit and as per advice, land registry would have been the best option. Let me knwo your thoughts.

1. In which year you got the cash deposited into your bank account?

2. On what date the Income Tax Officer passed the Assessment Order?

3. On what date the Income Tax Officer passed the Penalty order?

4. In which year you registered the Sale Deed (based on the cash receipt)?

5. Whether in the Sale Deed, a mention has been made that the consideration was paid by the purchaser by way of cash?

Thanks for your email. Really appreciate it. Answers to questions asked.

1. In which year you got the cash deposited into your bank account?
Year 2009/10

2. On what date the Income Tax Officer passed the Assessment Order?
    30/12/2017
3. On what date the Income Tax Officer passed the Penalty order?
   05/01/2018. Order was passed based on sec 56(1) 1961. IT official did not accepted the validity of agreement on the bases
A. Original document was not produced
B. Buyer, attorney and witness did not responded to IT notice. [Though wittness responded to notice through email and was present with me to give his statemen but the official did not take it] 
4. In which year you registered the Sale Deed (based on the cash receipt)?
10/01/2018
5. Whether in the Sale Deed, a mention has been made that the consideration was paid by the purchaser by way of cash?
Yes, It has reference of the agreement dated 2012 as well as payment by cash.

 

If you had deposited the cash in the year 2009-10, then the matter relates to Assessment Year 2010-11.  

How the AO Will do the Assessment in the year 2017-18 i.e. on 31.12.2017?

Do you mean to say that it was Re-Assessment Order?  Did the notice u/s. 148 alleged suppression / non-disclosure of full and true particulars by you in your return?  If so, what was the date of the Notice u/s. 148?

Hi, Thanksfor your reply. Due to certain issues I missed the ITR in 2010/11, reason I needed to fill last year.

Notice was received in agust 2017. Th eorder was based that not sufficient proof was provided to prove the income source.