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2020 (12) TMI 734 - HC - Income TaxAddition based on document seized during search - Unsigned notings seized during the search - undisclosed income - Addition on the basis of invalid evidence and in the absence of cross examination of the witness, whose statement formed the foundation - HELD THAT:- From the perusal of the order of assessment, it is evident that the AO relied on the document seized during the course of the search and not on the statement of Jayaram and brought to tax as undisclosed income. The assessee had the opportunity to adduce the evidence in rebuttal before the CIT (Appeals) as well as before the tribunal, however, he failed to do so. Even in second round of litigation, the Assessing Officer has placed reliance on the document seized during the course of search in the premises of the assessee and the aforesaid document admittedly relates to transaction in question in respect of which sale deeds have been executed in favour of the assessee. Therefore, the presumption arises that the payment was made to the assessee in view of Section 132(4A) of the Act. Despite opportunities being granted, the assessee did not lead any evidence in rebuttal and did not discharge the burden. Therefore, the finding recorded by the tribunal that a sum was an undisclosed income cannot be said to be perverse. Substantial question of law framed by a bench of this court is answered against the assessee.
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