Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (8) TMI 857 - ITAT AHMEDABADUndisclosed sale consideration against the sale of property - survey operation u/s 133A - In survey operation, a draft sale deed was found between the assessee and other party wherein the sale consideration was shown different leading to a difference in the sale consideration which was less/short reported by the assessee - HELD THAT:- The draft sale deed based on which the addition has been made by the authorities below has never been signed by the assessee and therefore no credence can be given to such draft sale deed. Likewise, the admission before the Settlement Commission made by the third party cannot be used against the assessee until and unless it is provided to the assessee for the confrontation. Draft sale deed in the absence of other corroborative materials cannot substitute the evidence. Hon’ble Supreme Court in the case of CBI vs. VC Shukla [1998 (3) TMI 675 - SUPREME COURT] held that entry can be made by any person against the name of any other person in any sheet, paper or computer, but the same cannot be the basis of making charges against the person whose name noted on sheet without corroborating the same The admission made by the buyer of the property before the Settlement Commission does not establish the fact that the assessee has received unaccounted consideration. Thus, we are not convinced with the findings of the authority below. Hence, we set aside the finding of the Ld. CIT(A), and direct the AO to delete the addition made by him. Thus, the ground of appeal of the assessee is allowed.
|