2016 (8) TMI 1619

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....A. For the Respondent : Shri Ravi Jain, CIT-DR. ORDER PER G.D. AGRAWAL, VP :-  This appeal by the assessee for the assessment year 2008-09 is directed against the order of learned CIT(A)-XXXIII, New Delhi dated 11th November, 2013. 2. The only ground raised by the assessee reads as under:- "The ld.CIT(A) has erred in law & facts of the case by ignoring the submissions ....

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....t during the assessment proceedings, the Assessing Officer asked the assessee to produce the confirmation of the said party. That the said party viz., M/s Greencity Buildtech Limited was avoiding the payment of balance amount and getting the land registered in its name and, therefore, it avoided the assessee. Therefore, the assessee could not furnish any confirmation from the said party. That duri....

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....stated that now the assessee has been able to trace M/s Greencity Buildtech Limited and if the matter is set aside to the file of the Assessing Officer, the assessee will be able to furnish not only the confirmation but all other evidences on record. 4. Learned DR, on the other hand, relied upon the order of the learned CIT(A) and he reiterated that it is highly improbable that a person who has....

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....and, learned CIT(A) admitted the same but, at the same time, he doubted the authenticity of agreement to sell. He also failed to notice the important fact that as per agreement to sell, the assessee had agreed to sell 10 acres of land for a sum of Rs.20,96,32,500/-. Though M/s Greencity Buildtech Limited had given the advance of Rs.90 lakhs but they had to pay more than Rs.20 crores to the assesse....