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2016 (6) TMI 424

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..... idence to show that the assessee made any investment of ₹ 44 Crores in purchase of a property, we are of the view that addition made by the AO was rightly deleted by CIT(A). We may also add that the I.T.S. or (AIR information) details received by the AO was only an information which could be the basis for starting an enquiry against the assessee. These details cannot be conclusive against the assessee - Decided against revenue - ITA No. 709/Kol/2013 - - - Dated:- 11-5-2016 - Shri N. V. Vasudevan, JM And Shri M. Balaganesh, AM For the Appellant: Shri Niraj Kumar, CIT(DR) For the Respondent: None ORDER Per N. V. Vasudevan, JM This is an appeal by the Revenue against the order dated 23.01 2013 of CIT(A) XXXII, K .....

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..... garding the AIR information regarding investment of properties. The Assessee pointed out that it had no such investments and made enquiries about the source of information received by the AO and its authenticity. The Assessee pointed out that it made efforts to get the details from the office of Joint Sub Registrar but could not succeed by 31.12.2010 when the assessment was completed but continued efforts and endeavours to obtain reply of Assessee s letter. The Joint Registrar Mumbai vide their letter dt. 4th September, 2011 sent full text of the transaction which was carried out by the Assessee. A certified copy of the registered document and copy of certified copy of resolution dt. 12th May, 2007 of the Assessee was filed. The said inform .....

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..... Municipality CITY-3. The appellant stated that during the year the assessee company did not purchase any property so the A.O wrote a letter to the concern authority for verification but the A.O did not received any information from the above mentioned authority up to the passing of the order and he made the addition of ₹ 44,00,0001- as undisclosed investment in the said property. Now in the appellate proceedings, the A/R filed the documents which was registered on 12/07/2007 in the office of Joint Sub-Registrar Bombay-3. The copy of the said document was sent to the A.O for remand report. The A.O send the remand report as under :- In this connection, this is to bring to your kind notice that the then A. O. during the cour .....

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..... 00,000/- is unwarranted, unjustified and unlawful. Hence, I delete the addition of ₹ 44,00,00,000/- made by the Assessing Officer. The ground is allowed. 6. Aggrieved by the order of the CIT(A) revenue is in appeal before the Tribunal. The learned DR relied on the order of AO. Despite service of notice none appeared on behalf of the assessee. In the circumstances we proceeded to decide the appeal on the basis of material on record and submissions of the learned DR. 7. We have considered the material on record and the order of CIT(A). We are of the view that the order of CIT(A) does not call for any interference. It is clear from the order of CIT(A) that the assessee never made any investments in the purchase of immovable prop .....

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