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| The Tax Publishers2020 TaxPub(DT) 0684 (Guj-HC) INCOME TAX ACT, 1961
Section 68
Since no addition could be made in respect of unsigned, unstamped, Satakhat, which was not registered and was found from CD of computer of a person who was not connected with assessee, therefore, addition so made by AO was without any basis and without any corroborating evidences and accordingly unsustainable in law.
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Income from undisclosed source - Addition under section 68 - Addition on basis of unsigned statement -
Issue arose for consideration as to whether Tribunal was right in upholding the decision of CIT(A) deleting the addition made under section 68 amounting to Rs. 2,51,75,891 without appreciating the evidentiary value of agreement to sell of a property. Held: No addition could be made in respect of unsigned, unstamped, Satakhat, which was not registered and was found from CD of computer of a person who was not connected with assessee. In view of these facts and circumstances and in law, addition so made by AO was without any basis, without any corroborating evidences and without allowing due opportunity of cross-examination to assessee and was therefore, unsustainable in law.
REFERRED :
FAVOUR : In assessee's favour
A.Y. :
IN THE GUJARAT HIGH COURT
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