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2018 (10) TMI 1842 - AT - Income TaxAddition u/s 69 - Unexplained investment - payment in cash over and above the sales consideration recorded in the sale deeds - assessee alleged as no opportunity of cross examination given - HELD THAT:- Addition is not based merely on the statement but the documentary evidence in the shape of agreement dated 11/05/2005, the bank statement of the sale deeds showing deposits of cash on the dates of the execution of the agreement as well as sale deeds and further the part consideration paid through cheque find mentioned in the agreement to sell as well as in sale deed established the fact of existence of the said agreement between the parties. The statements recorded by the Investigation Wing further corroborates the documentary evidence and hence it is not a case of addition based on mere statement of third party. Further the statements of the seller cannot be said to be the statement of the third party but they were very much party to the transaction of sale of the lands in question to the assessee. As regards the opportunity for cross examination, the ld CIT(A) called for a remand report from the Assessing Officer after allowing the opportunity of cross examination. Despite various opportunities given by the Assessing Officer, both the parties kept on seeking deferment of remand proceedings and finally the statements on behalf of the sellers were made that they stand by their statements made on the earlier occasions. Assessing Officer made sincere efforts for granting the opportunity to cross examine to the assessee, however, it appears that both the parties in collusion avoided the cross examination. Thus, the blame cannot be shifted on the Assessing Officer for non-cross examination if any. Addition made by the Assessing Officer in the hand of seller U/s 68 instead of capital gain would not affect the merits of the addition made in the hand of the assessee. Having analysed the entire facts, the relevant record including the evidence brought on record by the Assessing Officer, we do not find any error or illegality in the orders of the authorities below, hence uphold the order of the ld. CIT(A) qua this issue.- Decided against assessee.
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