Dismissing the appeal of the Revenue the Tribunal held that during the course of search of third party premises, nothing incriminating material was found against the assessee. The Assessing officer has made addition merely based on the statement of facts filed by DDDPL before the Income Tax Settlement Commission and\u00a0 no efforts whatsoever were made independently by the Assessing Officer to come to a conclusion that they have paid\u00a0 ant \u201cOn Money\u201d nor the Assessing Officer took any statement\u00a0 from the ultimate buyers of the plot of land that they have paid any \u201cOn money\u2019 and nor any evidence has been filed to show that the assessee was a party to the transactions of sale of plot of land between the DDDPL and the final buyers of the plot of land. Order of CIT(A), deleting\u00a0 the\u00a0 addition was affirmed. Relied on\u00a0 V.C. Shukla\u00a0 v. CBI\u00a0 (1998) 3 SCC 410,\u00a0 Common Cause (A Registered Society) v. UOI (2017) 77 taxmann.com 245 (SC)\u00a0 (AY. 2010-11, 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 143(3) : Assessment-Unaccounted receipts-On money-Land owner-No joint venture-Sale of land-No evidence was found-Dumb documents-Excel sheet found in third party premises-Order of Settlement Commission-Addition was deleted. [S. 132(4), 132(4A), 153C, 245C, 245D(4), 292C, Rule, 9, Companies Act 1956, S.209] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-36708","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9y4","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/36708","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=36708"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/36708\/revisions"}],"predecessor-version":[{"id":36709,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/36708\/revisions\/36709"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=36708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=36708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=36708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}