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2018 (12) TMI 918 - AT - Income TaxAddition under the head capital gain - whether the assessee has incurred the cost of improvement as discussed above on the building partly owned by him? - initial onus to substantiate claim - Held that:- Claim of the assessee was not substantiated before the authorities below by supporting evidence. Moreover, one of the party namely Dilip K. Mistry did not appear in response to the notice issued under section 131 of the Act. Similarly, the other party namely Gautam P. Suthar Prop of Riddi Siddi Furniture conceded that he had provided the bills to the assessee on request owing a very old association with the assessee. From the above, it is clear that the assessee failed to discharge his onus by documentary evidence in support of his claim. The map filed by the assessee showing the construction of 2 rooms on the 1st floor on the building was the proposed layout. The proposed layout does not prove that the assessee has constructed two rooms on the 1st floor of the building. There was no other document filed by the assessee evidencing that the assessee has constructed two rooms on the 1st floor of the building. There is no mentioned in the valuation report of the registered valuer about the two rooms on the 1st floor of the building viz a viz wall fencing. The registered valuer has valued the property taking the entire land and the building constructed thereon for the entire built-up area of the building as on 1st April 1981. As such the valuer has not reduced the built up area in respect to the impugned two rooms to determine actual built up area of the property as on 1-4-1981. Accordingly, no separate deduction on account of the cost of improvement for constructing two rooms and wall fencing can be given to the assessee in the given facts and circumstances. - decided against assessee. Addition of unexplained cash credit u/s 68 - Held that:- The assessee in the present case has just explained the source of the cash deposited in the bank but failed to substantiate the same by documentary evidence. The onus lies on the assessee to explain the source of the cash deposited in the bank from documentary evidence which assessee failed. There was no dispute regarding the sale consideration of the immovable property. The assessee has also not challenged the sale consideration of the property either before the AO or the learned CIT (A). The assessee 1st time before us has taken a plea that the cash deposited represents the part of the sale proceeds of the immovable property. There is a contradictory statement of the assessee before the authorities below and before us. Therefore, we conclude that there is no merit in the argument raised by the learned counsel for the assessee. - Decided against assessee.
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