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2011 (2) TMI 258 - HC - Income TaxAddition of Rs. 884750 - undisclosed investment in the property - Learned counsel for the respondent-assessee submitted before us that the Tribunal rightly deleted the addition made by the AO since no addition could be made under Section 69 of the Act merely on presumption basis - In any case, even if the Department has accepted the transaction entered into by those deeds of assignment, that is a different matter and not relevant to the present controversy - When we read the purported letter dated 25th February, 1992, it would lead one to outrightly disbelieve the version of the assessee as there could not have been any occasion for R. Balajee to write such a letter on the very next day to the assessee – Accordingly the appeal is disposed of
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