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2017 (9) TMI 476 - AT - Income TaxReopening of assessment - payment of on money to the seller - cogent reasons to believe - non application of independent mind by AO - addition on bases of suspicion - Held that:- In the absence of any evidence or material on record as to how the assessee is connected with the alleged seller, it is difficult to believe that assessee paid any on money to the seller. It therefore, appears that the A.O. without applying his mind to the information provided to him reopened the assessment merely on suspicion. Ld. CIT(A) on proper appreciation of material on record, correctly quashed the reopening of the assessment in the matter. It may also be noted here that no evidence has been brought on record as to whether assessee had paid any on money to the seller. The seized paper have not been found and recovered from the possession of the assessee. These are computerised sheets and have not been signed by the assessee. The seized papers were not in the name of the assessee. Therefore, how these are admissible against the assessee in evidence has not been explained by the Revenue department. The Ld. CIT(A) therefore, correctly held that even addition on merit is wholly unjustified. - Decided in favour of assessee.
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