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2015 (10) TMI 248 - AT - Income TaxAddition on Capital gains - AO made the impugned additions solely on the basis of information received from the DDI (Inv.) - Held that:- The contentions of the assessee that they have not received the cheques have not been disproved by the assessing officer. It is not understandable as to how the assessing officer could assess the alleged bogus capital gains in the hands of these assessees, when these assessees have not disclosed the same in their respective books of accounts or in the income tax returns. Though there is a possibility that these assessees might have encashed the alleged bogus capital gains through some other bank accounts, yet the said inference would be against the human probabilities as no prudent person would avail bogus capital gain with the purpose of not disclosing the same. Hence, in the absence of any other corroborative material to show that these assessees have received the cheques from Mukesh chokshi and his group of companies as per the information available in their computer record which could be corroborated with any other material and further in view of the fact that these assessees have denied the said receipts, we are of the view that the ld CIT(A) was not justified in confirming the additions made by the assessing officer. Tax authorities have taken the view that these assessees have failed to discharge the burden placed upon them, but there should not be any dispute that it would be difficult for anyone to prove the negative truth. Thus additions are liable to be deleted - Decided in favour of assessee.
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