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2024 (4) TMI 21 - HC - Income TaxDetermination of sale consideration - reliance on photocopy of the alleged agreement to sell which contains, inter alia the signatures of the assessee as a purchaser of the property - ITAT deleted addition - Whether the photocopy of a document, some part of information/facts recorded on it found to be correct in verification, could be treated as a valid document or not in the absence of the original? - HELD THAT:- Hon’ble Supreme Court in the case of S. Ganga Saran & Sons (P) Ltd. [1981 (4) TMI 5 - SUPREME COURT] has held that the Income Tax Officer must rely upon relevant material to form a reason to believe escapement of income and such belief should not be arbitrary or irrational. Hon’ble Supreme Court in the case of Moosa S. Madha& Azam S. Madha [1973 (2) TMI 5 - SUPREME COURT] was of the opinion that photostat copies have very little evidentiary value. Admittedly, the entire foundation is laid on the basis of the photocopy of the alleged agreement to sell dated 5 March 2010. The original copy of the said document has not seen the light of the day. Further, there is no other evidence to support the veracity of the recitals made in the aforesaid alleged agreement. Therefore, under the facts of the present case, the same cannot be construed to be a sustainable ground for making addition to the income of the assessee. Decided in favour of assessee.
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