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2019 (5) TMI 1305 - AT - Income TaxUndisclosed investment in furniture and fixture - addition on the ground that assessee during the course of survey has offered towards investment in furnishing and in equipments in showroom over and above the investment already recorded in the books of account which was subsequently retracted - second round of proceedings after remand by High Court to examine investment - onus of proof - HELD THAT:- Once, the basis of surrender and letter written by the AO stands negated by the Tribunal later on by the High Court in the sense that the Hon'ble High Court has directed the AO to consider the issue of purported investment afresh and assessee is open to challenge the said proposed addition on the ground that there is no basis for making such addition, then it was not open for the AO to again make the addition on same reasoning. If the assessee has denied making any such investment and had shown certain investment in the books, then onus shifts upon the AO to bring on record either by way of inquiry or any material which has been found during the course of survey that there was certain investment in fixture and furniture during the relevant Assessment Years. Even in the DVO’s report the subject matter of valuation was not the investment in fixture and furniture but was only restricted to the investment made in the construction of building. Thus, even the DVO’s report does not support the case of the AO Once there is no material to support such addition then addition cannot be made on certain estimate or presumption and accordingly same is directed to be deleted. - Decided in favour of assessee.
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