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2015 (3) TMI 1347 - AT - Income TaxAddition based on seized papers - taxation from undisclosed income of seized document being fastened on assessee - HELD THAT:- Seized document found from the possession of Sh Kinda, belong to them and if it is claimed that said document belong to assessee, then in that event the onus of proof vest with the AO. CIT(A) has rightly found that this onus has not been discharged by the AO, in so far as there is no corroborative evidence brought on record to substantiate that document or transactions mentioned therein belong to assessee except conjectures and presumptions and what to talk of any liability for taxation from undisclosed income of seized document being fastened on assessee. CIT(A) as per the trite law that "there must be something more than suspicion to support an assessment, the assessment based on pure suspicion is bound to be quashed". CIT(A) has rightly concluded that the attempt of the AO to connect seized paper with assessee has failed and finding given in the assessment order is erroneous on facts and is perverse and whimsical and stands vitiated and any addition based thereon deserves to be deleted. CIT(A) has rightly deleted the addition. No reason to interfere with the well reasoned order of the CIT(A), accordingly, we uphold the same and decide the issue against the Revenue by rejecting the ground of appeal filed by the Revenue. - Appeals filed by the Revenue stands dismissed.
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