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2014 (5) TMI 694 - AT - Income TaxAddition u/s 69A of the Act – Unexplained cash deposits in back account - Date of purchase and sale of land do not match – Documents not made available – Held that:- The facts involved in the subject matter have not been streamlined in a proper manner and the adverse inferences have been summarily drawn - If the assessee is owner of above pieces of land holding GPA, it gives a fair assumption that the land could be sold - if there is no subsequent deposit in assessee’s bank account which may give indication that the sale price have been fetched by the assessee, then the issues are to be decided on the basis of preponderance of probabilities - such preponderance has to be reasonably worked out - besides, copy of AIR information needs to be given to the assessee and the summons having not come back unserved or marked as no such person, implies that persons are available – Relying upon Commissioner of Income-Tax, Orissa Versus Orissa Corporation Pvt. Limited [1986 (3) TMI 3 - SUPREME Court] - the AO has to bring the summons proceedings to a logical conclusion - Merely because summoned person did not respond, cannot be held against assessee - thus, the matter is required to be remitted back to the AO for fresh adjudication – Decided in favour of Assessee.
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