2017 (10) TMI 1161

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....Respondent : Sri. Joseph Markose JUDGMENT Antony Dominic, J. This appeal filed by the Revenue is against the order passed by the Income Tax Appellate Tribunal, Cochin Bench in I.T.A. No. 389/Coch/2009 concerning the assessment year 2005-2006. By the said order, the Tribunal held that the assessment officer was not justified in making addition of Rs. 54,74,200/- under Section 69C of the In....

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....hen the assessment in the case of the sellers adopting the same value was confirmed by the ITAT by order marked Annexure D? 3. 4. Whether, on the facts and in the circumstances of the case the Tribunal is right in law holding that evidence should be obtained from the premises of the assessee and should be signed by the assesee for its application in assessment when the veracity o....

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....ideration paid was Rs. 2,03,20,100/-. When confronted, two sellers confirmed the excess payment, while one denied the allegations. This led to an assessment and an addition under Section 69C of the Act and the same was confirmed by the first appellate authority. It is this order which was challenged by the assessee in the Tribunal. 4. A reading of the order passed by the Tribunal shows that the....