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2019 (12) TMI 753 - AT - Income TaxAddition u/s 69 - addition based on a single loose sheet found from third party - HELD THAT:- In the case under consideration, the document in the form of receipt dated 2/5/2012 for ₹ 10 lakhs was seized from a third party and the party from whom the receipt has been seized, categorically stated, vide letter dated 12/2/2016, that the receipt dated 2/5/2016 was cancelled, as no payment has been made by the assessee. No corroborative evidence has been brought on record by the Department to indicate that the assessee had made cash payment of ₹ 10 lakhs for booking of the flat. Merely relying on the receipt, which was seized from a third party, and despite the unrebutted fact that the said receipt had been cancelled by the Company, as affirmed by the Director, in his letter dated 12/2/2016, it cannot be concluded that the assessee had made payment of ₹ 10 lakhs for booking of the flat. Therefore, the addition so made by the AO and confirmed by the CIT(A), purely on guesswork and conjectures and surmises, cannot be sustained. We reverse the order under appeal and delete the addition of ₹ 10 lakhs made u/s 69. - Appeal of the assessee is allowed.
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