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2017 (11) TMI 1500 - AT - Income TaxAddition u/s. 68 - amount received from Sh. Kripa Shankar as advance for sale of property - assessee has not filed any evidence regarding ownership of the aforesaid property; genuineness of the transaction not proved and Sh. Kripa Ram not appeared in response to summons u/s. 131 - Held that:- The aforesaid property is inherited by the assessee from his father, who was died on 10.8.2008 and after his death, assessee becomes the owner of this property. The house tax receipt shows that the property belongs to the father of assessee (Sh. Deep Chand). Also to prove the genuineness of the transaction the assessee has filed the copy of the agreement to sell and purchase dated 06.5.2009; acknowledgement receipt issued by the assessee to Kripa Ram; Ration card of Kripa Ram; DL of Kripa Ram; Copy of relevant OBC Bank statement of assessee showing cash deposit of ₹ 10 lacs on 8.5.2009; copy of relevant OBC bank statement of assessee showing return of ₹ 10 lacs clearing cheque on 13.3.2013; copy of relevant SBI Bank statement of Kripa Ram showing credit of ₹ 10 lacs on 13.3.201 and copy of confirmation dated 12.3.2013 from Kripa Ram furnished to AO. AS we further note that Sh. Kripa Ram did not comply with the summon issued to him u/s. 131 of the Act by the AO and assessee did not have any control on Sh. Kripa Ram. In view of the above, assessee has proved his burden and as per settled position of law, the assessee need not to be proved the source of source, hence, the addition made on the assessee is not sustainable in the yes of law, therefore, delete the addition in dispute and allow the appeal of the assessee.
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