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2022 (11) TMI 769 - ITAT AMRITSARReopening of assessment u/s 147 - Reasons to believe - HELD THAT:- We heard the rival submission and relied on the documents available in the record. In fact, the reasons recorded of the assessee that there are lacuna in the factual findings and in the PAN No. The issue was already agitated before the ld. CIT(A) but the matter was not taken proper care in relation to the legal ground. We find that the recorded reasons itself is erroneous and erred in fact. So the assessment order issued by the ld. AO is itself erroneous and non est. So the ground no. 1 and 2 of the assessee is allowed. Addition was made on basis of the entries were found in the books of accounts of the party under searched - HELD THAT:- As heard the rival submission relied on the documents available in the record. The entire addition was made on basis of the documents available in the record of the third party. Fact that the assessee has produced the deed documents to substantiate his claim related to transaction cash with the party. In remand report the issue was not properly controverted and taken care with relation to the search person and the parties related to sale and purchase of land. But the seller of the land confirmed the fact of the assessee and submitted the affidavit before the authority. The ld. Counsel has submitted the catena of judgment in favour of the assessee, considering the ratio decidendi of the judgment. The addition made by the ld. AO is duly set aside the addition amount & addition is quashed. Ground No. 3 and 4 of the assessee are allowed.
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