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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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