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2017 (1) TMI 886 - AT - Income TaxUndisclosed income addition u/s.69 - Held that:- We find that a unsigned paper was seized from the residential premises of one of the group members of the builders,that the group had made a disclosure of ₹ 22.50 crores,that there are two statements of same member of the group,that in one of the statements he had stated that in all the cases cash was not received,that the assessee had denied payment of cash for purchase of the shop, that he was not allowed to cross examine the builder.In our opinion,Rule 46A is not applicable to the facts of the case.The assessee had not filed additional evidences before the FAA,so,there was no justification for invoking the provisions of Rule 46A of the Rules. We find that in the case of Synthetic Hydro Carbon (2012 (9) TMI 1086 - ITAT MUMBAI),the Tribunal has dealt with the same issue.In that matter also a shop was purchased from the same vendor and on the basis of the seized paper the AO had made an addition to the income of the assessee wherein held that no material brought on record by the AO to substantiate his claim that assessee has actually paid ₹ 52,26,000/- over and above the cheque amount for the purchase of Shop No. 119 at Little World. The entire assessment has been made only on the basis of surmise, assumptions and conjectures. In our humble opinion, such additions cannot be sustained - Decided in favour of assessee
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