https://www.taxtmi.com/caselaws?id=294258 An addition for alleged undisclosed investment in land cannot be sustained merely on seized papers and a third party's statement when the transaction is supported by a registered sale deed, the declared consideration is accepted by the registering authority, and no independent corroboration shows payment over and above the recorded price. Where such a statement is relied on against the assessee, cross-examination must be afforded; otherwise, it cannot conclusively establish on-money payment. On these facts, the addition was deleted and the revenue's challenge failed. en-us Fri, 08 Mar 2013 00:00:00 +0530 Thu, 01 Apr 2021 10:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294258 An addition for alleged undisclosed investment in land cannot be sustained merely on seized papers and a third party's statement when the transaction is supported by a registered sale deed, the declared consideration is accepted by the registering authority, and no independent corroboration shows payment over and above the recorded price. Where such a statement is relied on against the assessee, cross-examination must be afforded; otherwise, it cannot conclusively establish on-money payment. On these facts, the addition was deleted and the revenue's challenge failed. Case-Laws Income Tax Fri, 08 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294258