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2014 (10) TMI 326 - AT - Income TaxAddition of on money received outside books of accounts – Assessment u/s 153A - Opportunity to cross examine not provided - Assessee contended that he has not received any extra consideration other than those specified in the agreement for sale – Held that:- The search and seizure operation were conducted at MIs. Rochem Separation System and Shri K.K. Goel - the payment of 'on money' was accepted by Shri K.K. Goel in his statement recorded u/s 132(4) of the Act - no opportunity was given to the assessee to cross examine the statement of Shri K.K. Goel - The assessment was made on 13.06.2008 whereas Shri K.K. Goel expired in May, 2008 and thus the assessee could not get opportunity to cross examine the concerned person - Representative of Shri K.K. Goel, i.e. M/s. Vinodkumar Bindal & Co., Chartered Accountants, in response to the summons issued by AO, appeared and stated that the purchaser never paid any on-money to the assessee and it was spent towards interior work in the flat as per the resolution of the Board of Directors of the company – Following the decision in ACIT Versus Rochem Separation Systems India (P) Ltd. & others [2011 (5) TMI 370 - ITAT, Mumbai] - an addition made on mere statement of the purchaser, i.e. K.K. Goel, HUF, cannot stand - the order passed by the CIT(A) is upheld – Decided against revenue.
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