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2015 (7) TMI 11 - KERALA HIGH COURT

2015 (7) TMI 11 - KERALA HIGH COURT - TMI - Unexplained fixed deposits and investments in property - appellant contended that the property in question was purchased by him along with four others and that therefore the entire investment cannot be added to his income - Held that:- For the years 2003-2004, 2004-2005 and 2005-2006 the authorities including the Tribunal have concurrently rejected the case of the assessee on the ground that the assessee could not produce any documents substantiating t .....

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gs. He also did not adduce any evidence regarding the contributions that are allegedly received by him from the other persons who are stated to be the co-owners. Such being the case, the Tribunal's order confirming this order also does not merit any interference.

So far as the assessment year 2006-2007 Not only that the details which were allegedly in the possession of the Assessing Officer and which is mentioned in the assessment order were not disclosed to the assessee, but also the .....

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AND SHAJI P. CHALY, JJ. FOR THE APPELLANT : SRI.N.MURALEEDHARAN NAIR AND SRI.V.K.SHAMUSUDHEEN FOR THE RESPONDENT : SRI.P.K.R. MENON, SC JUDGMENT Antony Dominic,J. Parties and the issues arising in these appeals, relating to assessment years 2003-2004 to 2006-2007, are common. Therefore, these cases were heard together and we dispose of by this common judgment. 2. In so far as the assessment for the years 2003-2004, 2004-2005 and 2005-2006, additions made by the Assessing Officer towards unexpla .....

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amounts found in deposits were such collected amounts. This was also sought to be substantiated by relying on the receipt and payment account prepared by a Chartered Accountant which was produced by the assessee for the first time before the Tribunal. However the authorities including the Tribunal have concurrently rejected the case of the assessee on the ground that the assessee could not produce any documents substantiating the claims and in fact the Tribunal has also entered a finding that th .....

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stment in property at ₹ 16,95,000/-. In so far as this investment is concerned, the appellant contended that the property in question was purchased by him along with four others and that therefore the entire investment cannot be added to his income. However, there is absolutely no explanation regarding his failure in producing the documents before the Assessing Officer. That apart he also has not adduced any evidence at any stage of proceedings. He also did not adduce any evidence regardin .....

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