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2015 (8) TMI 565 - HC - Income TaxAssessment u/s 153A - addition towards purchase of property made on the basis of slips recovered during the search - ITAT held that as far as the addition of ₹ 37,80,000 was concerned, since the Assessee had admitted to having paid for the property at ₹ 13,000 per sq.ft but not out of the books, it was "just and proper to restore the issue to the file of AO to afford an opportunity of hearing for the Assessee to explain the detail of the investment before the AO substantiating the fact that the Assessee had actually paid purchase consideration @ 13000 per sq ft for the property of 540 sq.ft - As regards the addition of ₹ 50 lakhs the ITAT found no perversity in the order of the CIT (A) to held that once the Assess had offered an explanation, the AO ought to have conducted an inquiry and undertaken verification of the properties - Held that:- Appellant was unable to point out why the direction of the ITAT remanding the matter of addition of ₹ 37,80,000 to the AO for affording an opportunity to the Assessee to explain the details should be interfered with. She urged that even in respect of the addition of ₹ 50 lakhs a similar direction ought to have been issued. The Court is unable to agree. The second addition of ₹ 50 lakhs stood on a different footing. As is evident from the concurrent orders of the CIT (A) and the ITAT, the said addition was indeed made by the AO purely on surmises without any inquiry whatsoever. The said addition was rightly directed to be deleted. - Decided against revenue.
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