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2014 (8) TMI 309 - ITAT DELHIUndisclosed income - Seized documents were dumb in nature or not – Held that:- The addition was made by the AO based on the loose paper cannot be considered as conclusive evidence - except relying , the notings in the loose slips, no attempt has been made to corroborate the notings with independent evidence - The parties to the 'transaction particularly the vendor has not examined - In every transaction there is a circle concerning two parties - It is not known whether the vendor has disclosed the consideration as noted in the diary - merely on the basis of presumption and some corroborated notings additions cannot be made – Relying upon COMMISSIONER OF INCOME TAX (CELTRAL) -I. NEW DELHI Versus ANIL BHALLA [2010 (2) TMI 7 - DELHI HIGH COURT] - the AO made addition on the basis of Annexure A-1 on his own whims, surmises and conjectures and also by converting and moulding the contents of the impounded document to gather support for his baseless findings - the Annexure A-1 stand alone cannot be used as a basis of making addition without the company of any other supportive material and evidence - the AO made addition without any basis and justified reason which was rightly deleted by the CIT(A) by holding that the document is a dumb document which cannot be a basis for making addition in regard to investment in purchase of land out of income from undisclosed sources u/s 69 of the Act – Decided against Revenue.
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