Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2013 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (11) TMI 972 - HC - Income TaxUnaccounted investment –Held that:- During the search carried out in the case of one Shri Vikas A. Shah agreement to sell of the land was found - Third party statement of Vikas A. Shah was used without allowing cross examination of third party which is against the principle of natural justice. This land had registered document and the value has been accepted to be correct by registering authority to the charge of stamp duty. There was no material or evidence that any on money was paid by the appellant on the transaction - The statement given by Vikas A. Shah was self service statement without any supporting evidence - No search was carried out on the appellant. The seized papers were found in the possession of Shri Vikas A. Shah. The third person evidence cannot be base for addition on the basis of any entries therein. The order passed by the ITAT in the case of the co-purchaser-Abhalbhai Arjanbhai Jadeja was further carried before this Court - When in the case of the co-purchaser, similar addition was deleted by the CIT(A) - The tribunal has not committed any error in dismissing the appeal preferred by the revenue and consequently confirming the order passed by the CIT(A) deleting the addition of Rs.92,00,000/- made on account of unaccounted investment – Decided against Revenue.
|