Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (10) TMI 862 - ITAT RAIPURAssessment u/s 153A - compensation received represents the investments which are not recorded in the books of account of the assessee and, therefore, are hit by the provisions of section 69B - Held that:- Since the addition made by the Assessing Officer is also based on the same agreement which was found from the premises of M/s Aarti Infrastructure & Buildcon Ltd. and since the Tribunal after considering the various submissions made by both the sides has dismissed the appeal filed by the Revenue on this issue by holding that the excel sheet containing in the seized Pendrive against the amount of ₹ 12,13,11,005/-, the word stated was “cost” and not the “sale value’ of the land and that in the agreement dated 01.04.2006 nowhere it was stated that the amount of ₹ 10,33,11,005/- receivable from Suncity Project (P) Ltd. was against the sale value of land in question, therefore, in absence of any contrary material brought to our notice, we find no infirmity in the order of the ld. CIT(A) in deleting the addition for the year under consideration in the hands of the assessee. Accordingly, the order of the ld. CIT(A) is upheld and the grounds raised by the Revenue are dismissed.
|