TMI Blog2021 (4) TMI 1309X X X X Extracts X X X X X X X X Extracts X X X X ..... eement for sale between Shri Ayub Haji Abdul Rashid Qureshi and Shri Rajansingh Kuvarsingh Baisthkur, the assessing officer could not have made an addition in the income of the appellant. Learned counsel for the appellant could not dispute that the appellant had cross-examined Shri Rajansingh Kuvarsingh Baisthkur. Even in the cross-examination of the said seller Shri Rajansingh Kuvarsingh Baisthkur, he admitted that he had received the sum of ₹ 30.55 lakhs out of which ₹ 2 lakhs was received by cheque and balance amount of ₹ 23.50 lakhs was received in cash. The entire order passed by the Income Tax Appellate Tribunal is based on pure findings of fact. No substantial question of law arises in this appeal filed under Sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ailed order rendered by the Income Tax Appellate Tribunal, the said appeal preferred by the appellant was dismissed. 4. Learned counsel for the appellant submits that the original of the agreement of sale between the vendor of the said land in favour of the appellant and the erstwhile tenor was produced before the assessing officer and thus, based on a photocopy of the said agreement for sale, the assessing officer could not have made an addition of ₹ 28,88,125/- as deemed income being unexplained investment in land shown less in balance sheet. 5. It is submitted by the learned counsel that similar error is also committed by the Commissioner of Income Tax (Appeals) and also by the Income Tax Appellate Tribunal while confirming t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ow the said land within a period of two months could have been agreed to be sold in favour of the appellant in the sum of ₹ 2 lakhs only. After considering this aspect in great detail and the admission of Shri Rajansingh Kuvarsingh Baisthkur, the assessing officer made addition of ₹ 28,88,125/- as deemed income being unexplained investment in land shown less in the balance sheet of the appellant. The Commissioner of Income Tax (Appeals) also after considering the oral and documentary evidence, recorded the findings that there was unexplained investment in land shown less in the balance sheet of the appellant and dismissed the appeal filed by the appellant. 8. We have also perused the impugned order passed by the Income Tax Ap ..... X X X X Extracts X X X X X X X X Extracts X X X X
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