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2018 (9) TMI 1095 - GUJARAT HIGH COURTProtective addition - Addition of undisclosed income (on money consideration received by the assessee) - addition made on the ground that the assessee firm signed in the sale deed as confirming party, which, as such, was between the partners of the assessee firm in their individual capacity - Tribunal deleting the addition on the ground that no material has been brought on record in respect of the assessment made - survey under Section 133A - Held that:- The assessee firm was merely a confirming party and no consideration was received by the assessee firm with respect to the transaction of transfer of certain lands and that the transaction was in favour of the partners of the firm in their individual capacity and that no similar addition was made in the hands of those partners in their individual accounts and that as such, the addition was made by the Assessing Officer in hands of the assessee as “protective addition”, it cannot be said that the learned Tribunal has committed any error in deleting the addition made by the Assessing Officer on account of alleged on money consideration received by the assessee firm. We are in complete agreement with the view taken by the learned Tribunal.- decided against revenue
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