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2017 (10) TMI 1161 - KERALA HIGH COURTAddition under Section 69C - Held that:- We find that there was a search under Section 132 of the Act in the premises of the assessee on 05.10.2005. In the previous year to the assessment year, the assessee had purchased 60.412 cents of land from 3 persons and in the accounts, the value of the property was shown as ₹ 1,57,36,700/-. However, from the residences of the two sellers, a paper giving details of the consideration given was found and it is revealed that the actual consideration paid was ₹ 2,03,20,100/-. When confronted, two sellers confirmed the excess payment, while one denied the allegations. This led to an assessment and an addition under Section 69C and the same was confirmed by the first appellate authority. It is this order which was challenged by the assessee in the Tribunal. A reading of the order passed by the Tribunal shows that the Tribunal had followed the orders passed by it in the case of one of the sellers and it is primarily following that order the appeal was allowed.
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