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Issues: Whether the ostensible sale consideration recorded in a registered sale deed could be contradicted by affidavits and oral statements to contend that no consideration had passed, and whether the amount mentioned in the deed was liable to be treated as the assessee's unexplained investment.
Analysis: Sections 91 and 92 of the Indian Evidence Act, 1872 embody the rule that where the terms of a transaction have been reduced to writing, the document itself is the best evidence of those terms and oral evidence cannot be admitted to vary, contradict, add to, or subtract from them. The registered sale deed disclosed a specific consideration, and that written recital could not be displaced by subsequent oral assertions or affidavits claiming that the transfer was without consideration. On that basis, the consideration shown in the sale deed was treated as the real consideration passing under the transaction.
Conclusion: The oral evidence and affidavits could not override the registered sale deed, and the consideration stated therein was rightly brought to tax as unexplained investment.
Final Conclusion: The appeal failed, and the addition made on the basis of the sale deed was sustained.
Ratio Decidendi: When the terms of a transaction are reduced to a written and registered instrument, its recitals cannot be contradicted by oral evidence or affidavits, and the written consideration may be acted upon for tax purposes.
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