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2018 (11) TMI 1493 - HC - Income TaxComputation of income of the block period - undisclosed expenditure or investment - Held that:- In the present case, admittedly, the owner of the premises, in respect of which the “pakadi” is said to have been paid was not examined. Based on the sworn statement of one another person, who deposed u/s 132(4) that an amount of money was given to the earlier tenant, proceedings were taken against the assessee; which was not corroborated by any other evidence. There was also no enquiry carried out to find whether such amounts were in fact received by the assessee or the assessee had any undisclosed expenditure or investment on the basis of such amounts received. In such circumstances, we are of the opinion that the order of the Tribunal cannot be interfered with and we refuse to answer the question raised, which is merely on facts and not on law. The statement was confronted to the assessee, but he denied the same. The AO failed to get any corroborating evidence in the search conducted in the premises of the assessee and hence we have confirmed the order of the Tribunal affirming that of the CIT (Appeals), which set aside the order of the AO. There is no warrant for a remand. The appeal would stand rejected.
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