IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI “A” BENCH : MUMBAI BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER Assessment Year : 2018-19 Ali Hasnain Rafique Cassum, Income Tax Officer-17(1)(1), 74-B, Peddar Road, Kautilya Bhavan, Dr. Gopalrao Deshmukh Marg, vs. Mumbai Cumballa Hills, S.O.

Mumbai PAN : ADBPC5032E (Appellant) (Respondent)

Assessee by : Shri Dharan Gandhi Revenue by : Shri Umesh Chandra Sinha, Sr. DR Date of Hearing : 27-02-2025 Date of Pronouncement : 27-02-2025

ORDER

PER B.R. BASKARAN, A.M :

The assessee has filed this appeal challenging the order dt.13-11-2024 passed by the Ld. Commissioner of Income Tax (Appeals)-National Faceless Appeal Centre (NFAC), Delhi [„Ld.CIT(A)‟] and it relates to AY. 2018-19. The only issue urged in this appeal is related to the addition of Rs.78.69 lakhs made by the AO u/s56(2)(x) of the Income Tax Act, 1961 („the Act‟).

2. The facts relating to the case are stated in brief. The AO took up the return of income filed by the assessee for scrutiny in order to verify the investment made by the assessee in the immoveable properties. It was noticed that the assessee and his brothers have purchased fou