It has been held by the appellate tribunal that addition on account of on-money allegedly received by the assessee on sale of land could not be made in the assessment under s. 153C simply on the basis of some vague noting on a nondescript loose paper seized from the possession of the searched person (purchaser) and the statement of the said third party, without cross-examination, more so when the purchaser has filed an affidavit whereby he has affirmed on oath that the cash payments were not made to the assessee but to some old landowners/ Banakhat owners and others who were claiming ownership in the said land and the contents of the affidavit remain uncontroverted. (AY.2013-14)
Kantibhai P. Patel v. DCIT (2021) 211 TTJ 187/ 208 DTR 54 / Chhotalal P.Patel v. Dy .CIT (2021) 211 TTJ 187/ 208 DTR 54 (Ahd) ( Trib)(Ahd.) (Trib.)
S. 153C : Assessment-Income of any other person-Search and seizure-loose paper in question was found from the possession of searched party-affidavit of searched person filed by the assessee to show that cash payment were made to landowners-deponent was not examined by the AO-No adverse inference can be drawn against the assessee. [S. 132]