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2012 (3) TMI 535 - ITAT AGRAUnexplained investment - addition made by AO merely on the basis of stamp valuation adopted by the Registrar for the purpose of registration of the document - Held that:- There is nothing on record to support the finding of the AO for making the addition on account of unexplained investment in property. There is no law to justify the findings of the AO to adopt the stamp valuation for the purpose of making addition in the case of the purchaser. It was a case of search and nothing was found against the assessee if the assessee or his wife made any undisclosed investment in property. According to the ld. DR, the AO has not invoked the provisions of section 50C of the IT Act, but no other provision has been brought to our notice under which such an addition can be made against the assessees. In view of the finding of fact given by the ld. CIT(A) and in absence of any incriminating material against the assessee brought on record for the purpose of making above addition, we do not find any infirmity or illegality in the order of the ld. CIT(A) in deleting the addition. Addition on account of household expenses - Held that:- No merit in this ground of appeal of the Revenue. The AO purely made estimated addition without bringing any material against the assessee for estimating household expenses. The contention of the ld. counsel for the assessee that in other cases similar additions have been deleted, has not been rebutted through any material on record. In the absence of any material on record in favour of the revenue, we do not find any justification to interfere with the order of the ld. CIT(A). Same is confirmed and thus, the appeal of the Revenue is dismissed. Unexplained investment in plot at Sirole - Held that:- Since the AO has not brought any evidence on record that the assessee made payment of ₹ 1,30,00,000/- to the seller and no cogent and reliable corroborative evidence have been filed on record, we do not find any justification to interfere with the order of the ld. CIT(A). The finding of fact recorded by the ld. CIT(A) support the contention of the ld. counsel for the assessee that it is not a fit case for taking a contrary view what has already been taken by the ld. CIT(A). Accordingly, we do not find any merit in this ground of appeal of the Revenue. The departmental appeal is, accordingly, dismissed on this ground as well
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