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2017 (8) TMI 329 - AT - Income TaxUnexplained investment - unregistered agreement - addition on account of agricultural land and deposits before the date of sale - Held that:- Order of the learned CIT(A) is quite reasoned one and is based on the identical issue dealt with by the learned CIT(A) in the preceding year since the assessee was not accorded the benefit of cross-examining through Shri Tazbar Singh Bhandari and the purchaser Shri Dharmendra Singh and such statement cannot be used against the assessee. The only question is whether the middlemen, namely, Shri Ayodhya Prasad Semwal and Shamim Ahmad entered into an agreement with Shri Tajbar Singh Bhandari or not. It is immaterial to the assessee’s case. Once they have confirmed that they paid the money to the assessee on account of the sale of his land, the source of the money is to be investigated in their hands. As far as the assessee is concerned, the source is explained. Therefore, it cannot be regarded as unexplained investment and brought to tax as such. Therefore, the addition made by the AO on this account is unsustainable. - Decided against revenue
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