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2011 (5) TMI 817 - GUJARAT HIGH COURTAddition u/s.69B of the act - undisclosed investment – Assessing Officer treated the seller and buyer on the same footing for making additions referring to higher valuation of property for the purpose of stamp duty – Held that:- Assessing Officer committed an error in adopting the valuation of the property for the purpose of calculation of stamp duty to come to the conclusion that the assessee had made undisclosed investment. The deeming fiction of Section 50-C could not be applied for ascertaining the undisclosed investment of assessee under Section 69-B of the Act. Even otherwise, assessee had produced on record other material such as sale deeds in the same GIDC estate to compare with price disclosed in the document, no material to show that assessee had received inadequate consideration, Tax Appeal is dismissed
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