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2015 (11) TMI 437 - AT - Income TaxAddition on receipt of on-money - CIT(A) deleted the addition on the ground that there was no such admission by any of the directors regarding receipt of on-money. He had offered an amount of ₹ 1.91 crores only to cover up any omission, deficiencies and to maintain harmony with department - whether no documentary evidence was found during the course of search or post search enquiry evidencing receipt of on-money by the assessee company - Held that:- From the copy of the assessment order we find the basis of addition of ₹ 50 lakhs by the AO is merely on presumptions and surmises without any evidence whatsoever found during the course of search or post search enquiries that the assessee has infact received any such on-money. There is also no corresponding discussion in the assessment order regarding the statement of the owners admitting payment of on-money or any alleged incriminating evidence establishing such payments. Therefore, when there was no evidence found during the course of search or post search enquiries that the assessee has received any on-money on account of sale of flat No.A-202 and since neither the statement of the owners of flat No.A-202 was provided to the assessee nor the request of the assessee to cross examine the owners of flat No.A-202 was provided despite repeated request during the assessment proceedings and since the entire addition is based on presumptions and surmises, therefore, we do not find any infirmity in the order of the Ld.CIT(A) deleting the addition of ₹ 50 lakhs made by the AO on account of on-money received in respect of flat No. A-202. In this view of the matter and in view of the detailed reasoning given by the Ld.CIT(A) deleting the addition, the same is upheld and the grounds raised by the Revenue are dismissed. - Decided in favour of assessee.
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