TaxTMI 
TaxTMI 
2010 (2) TMI 262
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....07 in respect of the assessment year 2003-04. The Tribunal while accepting the appeal of the Revenue has expressed the view that ostensible sale consideration of the land disclosed in the registered sale deed dated September 24, 2002, deserves to be added to the income of the assessee-appellant. The Tribunal has disregarded the statement made on affidavit by the vendors S/Shri Tirath Singh and Surmukh Singh, who are the real uncles of the assessee-appellant. They have stated in the affidavits that in fact no sale consideration had passed hands and they had relinquished their share in the landed property. The object of executing sale deed was only to hand over landed property to the assessee-appellant as they are well settled in the United K....
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.... settling us abroad about 45-48 years back." 2. Likewise, identical questions were asked to Surmukh Singh who has given the same answers. The Commissioner of Income-tax (Appeals) had accepted the version of the assessee-appellant as is evident from the order dated February 17, 2006 (A11). However, on appeal to the Tribunal the views expressed by the Commissioner of Income-tax (Appeals) have not been accepted. The view of the Tribunal is discernible from the following extracts of its order which reads thus: "4.1 . . . In our opinion, in this case, the sale deed reflects the payment of sale consideration of Rs. 24,65,000. The sale deed executed was duly registered before the Registration Authority. The assessee's past record is no....
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....estment. We are of the opinion that there is nothing wrong in business being done in such a way as to escape taxation. Every person is entitled so as to arrange his affairs as to avoid taxation but the arrangement must be real and genuine . . . Hence, the real intention of the party different from the apparent intention and that affidavit cannot give effect, though the affidavit legally correct or valid. Further the assessee's sale deed cannot be executed between the vendor and the assessee without consideration and there is no dispute regarding the genuineness of the agreement. The Assessing Officer has not made any attempt to interpret the agreement in favour of the Department to enable him to collect more tax. The sale deed was entered i....
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....n few thousands at any time and such a huge amount of over Rs. 24 lakhs could not have been paid by him. 4. We have thoughtfully considered the submissions made by the learned counsel and are of the view that they do not warrant acceptance. There is well known principle that no oral evidence is admissible once the document contains all the terms and conditions. Sections 91 and 92 of the Indian Evidence Act, 1872 (for brevity "the 1872 Act") incorporate the aforesaid principle. According to section 91 of the Act when terms of contracts, grants or other dispositions of property have been reduced to the form of documents then no evidence is permissible to be given in proof of any such terms of such grant or disposition of the property excep....