Tribunal held that the Department found the agreement to sale \u00a0with the schedule of payments. There was proof for payment in cash and by cheque. \u00a0Apart from that, there was no evidence to show that the assessee had actually made the payment except the schedule of payments mentioned in the agreement. \u00a0The AO made the addition only on presumption that the payment would have been made. \u00a0The assessee denied that it had actually made any further payments and submitted that the transaction had not gone through. \u00a0But no details were submitted. \u00a0The Department had not found anything to show that the landlords actually received the payments. The additions could be made only based on actual evidence and not based on presumptions particularly, Therefore, the addition was to be deleted. \u00a0(AY. \u00a02007-08, 2008-09<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 69B : Amounts of investments not fully disclosed in books of account\u2013 Unexplained investment-Purchase of land-Addition merely on presumption is held to be not justified.<\/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":[1],"tags":[],"class_list":["post-8627","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2f9","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8627","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=8627"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8627\/revisions"}],"predecessor-version":[{"id":8628,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8627\/revisions\/8628"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=8627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=8627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=8627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}