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2016 (3) TMI 1328 - AT - Income TaxPenalty proceedings u/s 271AAA - Addition of unexplained expenditure u/s 69C - Held that:- As decided in assessee's own case None of the sellers have been examined by the AO to strengthen his views that cash has been paid over and above the registered amount. There is not a single document/evidence of parties involved in the sale of land at different villages brought on record to show that an amount other than the payment of consideration has changed hands. No confession from the sellers have been brought on record. There being no evidence to support the revenue’s case that use figure, whatever be its quantum, over and above the figure in the records and accounts changed hands between the parties, no addition could therefore be made under section 69C of the Act to the income of the assessee considering the entire facts brought on record, we have no hesitation to hold that even on merits no addition could be sustained - Decided in favour of assessee.
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