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2021 (4) TMI 489 - ITAT CHANDIGARHUndisclosed deposits in bank account - addition made by the Assessing Officer treating the cash deposit to assessee's own income earned from undisclosed sources - Cancellation of agreement/deal to buy house on which advance payment made due to no clear title of seller - seller agreed compromise and to pay the money in bank account in six equal instalments - HELD THAT:- We notice that during the course of assessment proceedings AO examined Mr. Ravi Gulati and recorded his statement. Mr. Gulati in his statement has categorically stated that he had paid ₹ 15,00,000/- to the assessee in instalments. He has further stated that he had taken the said amount from his employer Sh. Rahul Mehra. Sh. Ravi Gulati one of the accused in the F.I.R.registered with P.S. Manimajara, which prima facie shows his involvement in the said fraudulent deal. Hence, the documents on record corroborate the contention of the assessee. The AO has not examined the in-charge of the concerned police station to verify the version of the assessee. Similarly, the AO has not examined Sh. Rahul Mehra to ascertain as to whether he had paid money to Sh. Ravi Gulati. As per the settled law AO cannot make addition on the basis of surmises and conjunctures. The AO could have placed on record some important facts by examining the concerned persons to falsify the contention of the assessee. Under these circumstances, we have no reason to disbelieve the contention of the assessee and to reject the documentary evidence on record - Decided in favour of assessee.
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