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2022 (6) TMI 234 - AT - Income TaxAddition u/s 69B - Amount of investments, etc., not fully disclosed in books of account. - HELD THAT:- On a perusal of the statutory provision, it can safely be gathered that the assessee has made investment in the property and the investment recorded by him based on the statement recorded by the witness stated that the consideration of the said property was Rs. 50,00,000 and they have received the said money from the assessee. Whereas the assessee has not officered any plausible explanation. He remained to be silent right from the assessment proceedings and before the CIT(A) and has not objected to the findings recorded by the witness and he also remained silent on the cross examination of the witness whose statement is relied upon. Thus, the silence of the assessee on the statement recorded proves that he has accepted the averments made in the statement of the witness whose statement has been recorded after the due process of law. We, thus, in terms of our aforesaid observations and concurring with the well-reasoned view taken by the CIT(A) that mere filling of an appeal and filling of an affidavit which are self-serving documents and learned AR at the time of hearing before CIT(A) could not bring any material which could have change the factual position of the case. Thus, based on this observation we uphold of the view of the CIT(A) and the appeal of the assessee is dismissed.
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