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2015 (1) TMI 1231 - AT - Income TaxAddition u/s. 69 - unaccounted money had been received by the sellers of property which was purchased by the assessee - CIT(A) deleted the addition - Held that:- It is not in dispute that the assessee was not a party to the seized agreement of sale [Banachitti] which was the basis of making the entire addition. We find that it is not in dispute that the said agreement of sale does not bear the signature of the assessee. Further, we find that nowhere in the statement recorded of sellers, sellers have stated that they have received any money from the assessee which was more than the amount they acknowledged to have received from the assessee in respect of sale of land in question from the assessee. The sellers in their statements have claimed that they received the money from Shri Vivek Patel only and not from the assessee. The revenue could not bring any material on record, after making inquiry with said Shri Vivek Patel to show that the assessee paid actually any amount more than the amount stated in the registered Deed of sale. In absence of any such material, the additions were made only on the basis of assumptions and presumptions. In the above circumstances, we do not find any good reason to interfere with the findings of the CIT[A]. - Decided in favour of assessee. Validity of issuance of notice u/s 148 - objections raised by the assessee against the issuance of notice u/s 148 was not disposed off - Held that:- On the considered view that the impugned order of re-assessment passed by the Assessing Officer without disposing off the objections raised by the assessee against the issuance of notice u/s 148 by a separate order is liable to be quashed. We order accordingly. - Decided in favour of assessee.
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