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2021 (12) TMI 60 - BOMBAY HIGH COURTAddition u/s 69A - disallowance on account of undisclosed money - HELD THAT:- We do not see any reason to interfere with the order impugned. The crux is that there was no evidence found against respondent and no enquiry was carried out by the AO to find out more details and the entire addition has been made on hypothetical basis. ITAT has also accepted the explanation of respondent that initially the said flat, of which the letter was found, was negotiated and sold for a sum of ₹ 59,34,000/- to one Mr. Milind Bhingare and the party had made a token payment of ₹ 1 lakh. The booking was cancelled on the ground that the agreed price was much higher than prevailing market price and ₹ 1 lakh was returned to Mr. Milind Bhingare. Thereafter, Mr. Devendra Singh Tomar approached respondent and negotiated to purchase the flat at ₹ 49,18,000/- which amount the said Devendra Singh Tomar paid in three installments. The said Devendra Singh Tomar has also filed an affidavit giving details as well as proofs of payment. In our view, the conclusions of the Assessing Officer and supported by CIT (A) are all conjectures. Tribunal has not committed any perversity or applied incorrect principles to the given facts and when the facts and circumstances are properly analysed and correct test is applied to decide the issue at hand, then, we do not think that question as pressed raises any substantial question of law.
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