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2018 (11) TMI 478 - AT - Income TaxReopening of assessment - addition u/s 69 - Held that:- The basis for relief in all the decisions is the finding of Hon’ble High Court which is on the basis of certain facts as correct as stated by Shri Chetan Gupta in his statement dated 26.03.2009 before the Assessing Officer wherein he declined any association with the Pendrive and also denied the fact that he was managing the funds of 148 odd people. It was primarily for this reason that the Hon’ble High Court granted relief. There is no evidence or material to support the addition made by the Assessing Officer, the addition made does not sustain. Therefore, issue relating to addition made u/s 69 of the Act on the basis of an alleged pen drive of Shri Chetan Gupta does not survive and the order of the CIT(A) is set aside. Inclusion of ALV of Bharatpur Project - Assessing Officer treated the Bharatpur property as self acquired property and computed the ALV of the Delhi property and brought to tax a sum of ₹ 7,44,055/-. - Held that:- The property at Bharatpur is in dilapidated condition, as such, same is incapable for let out and hence the ALV of such property cannot be brought to tax. But after going through the decision the ratio as appears in the decision of the Hon’ble High Court is on different issue and will not be applicable in the present case. Even the dilapidated property as its ALV and thus, the contentions of the Ld. AR does not sustain as the property always has the value. Therefore, Ground No. 6 to 6.1 are dismissed.
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