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2015 (7) TMI 11 - HC - Income TaxUnexplained fixed deposits and investments in property - appellant contended that the property in question was purchased by him along with four others and that therefore the entire investment cannot be added to his income - Held that:- For the years 2003-2004, 2004-2005 and 2005-2006 the authorities including the Tribunal have concurrently rejected the case of the assessee on the ground that the assessee could not produce any documents substantiating the claims and in fact the Tribunal has also entered a finding that the assertions made by the assessee before the Tribunal were contrary to his own case before the lower authorities. Such being the case, we cannot find fault with the Tribunal in having confirmed the findings of the lower authorities. There is absolutely no explanation regarding his failure in producing the documents before the Assessing Officer. That apart he also has not adduced any evidence at any stage of proceedings. He also did not adduce any evidence regarding the contributions that are allegedly received by him from the other persons who are stated to be the co-owners. Such being the case, the Tribunal's order confirming this order also does not merit any interference. So far as the assessment year 2006-2007 Not only that the details which were allegedly in the possession of the Assessing Officer and which is mentioned in the assessment order were not disclosed to the assessee, but also the Assessing Officer also has not disclosed any such details in the assessment order. This contention has also not been considered by the first appellate authority and the Tribunal. In such circumstances, we are unable to sustain the inclusion of ₹ 15,14,200/- in the income of the assessee for the assessment year 2006-2007, allegedly towards investment made by him in the property. - Decided partly in favour of assessee.
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