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2023 (11) TMI 327 - ITAT JAIPURAddition u/s 69 - unpaid purchase consideration and the future commitment made to the builder by the assessee - HELD THAT:- Merely at the time of registration and TDS process the total amount of investment considered but the same cannot be taken as a basis for which the actual payment neither due nor paid by the assessee. Thus, the same cannot be considered as unexplained investment by the assessee. We have gone through the proposals,letters and relevant deed of purchase of property placed on record before us and before ld. CIT(A). The said information contended by the ld. AR of the assessee is based on evidence which has not been controverted that the assessee has not paid the said amount. Hence, in the absence of clear evidence placed before us we are of the considered view that once the assessee has not made any payment the same cannot be added as unexplained investment. The revenue did not bring on record contraryfact that the assessee has paid this amount. But in fact it is based on the record that the same is considered as due by the builder. Thus, the due payment cannot be added as unexplained investment by the assessee. Therefore, we are of the considered view that the addition does not have leg to stands and the same is thus vacated. Addition of stamp duty - assessee has already placed record the evidence to prove that the assessee has paid a sum partly. Balance amount has been paid out of the loan taken by his father. The proof of payment in the form of bank account maintained by his father is available on record. Therefore, since the source of this payment of stamp duty duly discharged by the assessee, the same cannot be added in the hands of the assessee merely stating that the assessee might have given this money to his father but in fact his father has taken housing loan and from that ICICI bank housing loan, this payment has been made. Therefore, same cannot be added in the hands of the assessee as unexplained investments. Addition next assessee based on the deed of seller proved that the assessee has out of total deal paid a sum which is not disputed, and a stamp duty and other related payment is yet not paid by the assessee but the builder has in the schedule just debited the amount. Therefore, when the said amount is not paid the same cannot be considered as an unexplained investment of the assessee. Based on these facts already on record the addition is vacated. Addition next assessee has along with his father purchased a property at Banipark, Jaipur for an amount of Rs. 91,64,348/- and 50% of that amount which comes to Rs. 45,82,174/- has been added as unexplained investments of the assessee on the pretext that the whole of the payment is made by the assessee and therefore, he has not considered the fact that the father of the assessee taken a loan to meet investment of his part for which the ld. AR of the assessee relied upon the evidence of loan taken and payment of cheque made by his father from his bank account. This factual aspect of the matter has not been challenged. Thus, based on this discussion, the addition is vacated. Based on the detailed findings recorded here in above, we are of the considered view that the addition above is factually incorrect and thus vacated. Thus, Ground raised by the assessee is allowed.
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