TMI Blog2010 (1) TMI 731X X X X Extracts X X X X X X X X Extracts X X X X ..... ced by the assessee to the AO for his comments. He conducted an inquiry and asked the assessee-respondent to produce original bank statement. Then he sent a reply to the CIT(A) authenticating the whole transactions. Thereafter the CIT(A) and the Tribunal have accepted sale consideration depicted in sale deed as fact. - Decided in favor of assessee. - IT Appeal No. 653 of 2009 - - - Dated:- 7-1-2010 - M.M. Kumar, Jitendra Chauhan, JJ. Urvashi Dhugga for the Revenue JUDGEMENT M.M. Kumar, J:- 1. The instant petition filed by the Revenue under s. 260A of the IT Act, 1961 is directed against the order dt. 27th Feb., 2009 passed by the Income-tax Appellate Tribunal, Delhi Bench (for brevity 'the Tribunal') in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sional Officer (1994) 4 SCC 595 to hold that the basic valuation register prepared and maintained for the purpose of collecting stamp duty could not form the foundation to determine the market value of the acquired land under s. 23 of the Land Acquisition Act, 1894. The burden of proof is always on the claimant to prove such a fact and in each case the prevailing market value as on the date of notification published in the State Gazette under s. 4(1) of the Act has to be proved. The Tribunal also held that valuation done by any State agency for the purpose of stamp duty would not ipso facto substitute the actual sale consideration as being passed on to the seller by the purchaser in the absence of any admissible evidence. The AO is obliged ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the purchase deed. The Tribunal while sitting in the second appeal is not supposed to give directions on the appeal of Revenue that a reference to the Valuation Officer is to be made in order to substantiate the addition. The steps which AO could have taken, if not taken then that lacuna cannot be filled up at the end of the Tribunal. In the absence of any evidence exhibiting the fact that assessee has made unexplained investment in the house property, no addition can be justified. Learned first appellate authority has appreciated the facts and circumstances in right perspective. We do not find any error in the impugned order on this ground. Thus, the ground of appeal raised by the Revenue is rejected. 3. Having heard the learned counse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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