2023 (9) TMI 1757

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....dition of Rs. 2,00,00,000/- made by the AO, ignoring the facts & circumstances of the case as mentioned in the assessment order." 3. In this case, assessment was reopened on the basis of following information received :- "The office of the Income Tax Officer, Ward 18 (4), New Delhi has enclosed copy of TEP along with copy of agreement to sell between M/s. Northern India Plywood Pvt. Ltd. (first party - the seller ) and M/s. Gammon Constructions Pvt. Ltd. (second party - the purchaser). As per agreement the assessee has made payment of Rs. 4 crore (2 crore by cheque and 2 crore in cash) the M/s. Northern India Plywood Pvt. Ltd. as advance for the farm house at Vasant Kunj, Delhi on 04.12.2010. On enquiry in this regard, assess....

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....f Rs. 2,00,00,000/- is concerned, it was also denied having made such payment by the assessee company as no transfer of any such land has ever taken place. However, when the assessee was asked to produce documentary evidence in support of its contention, the assessee could not produce the same. It was specifically asked that the cash payment leaves no proof behind, it was specifically required to prove that no transaction with regard to cash payment of Rs. 2,00,00,000/- has been undertaken. In reply, it was stated that no such transaction has ever taken place. However, no independent witness or documentary evidence was produced. On the other hand, as per the copy of agreement to sell available on record, the assessee company has made paymen....

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....s and documentary evidences a non-occurring of an event. The witnesses and documentary are called upon to prove an occurrence of the event not the non-occurrence of it. Besides, there are statements denying any such signing of agreement or entering into cash transaction and clear evidences of ownership of land measuring 3.6 acre in the name of M/s Northern India Plywood Pvt. Ltd. which were disregarded by the AO." 5. Against this order, Revenue is in appeal before us. We have heard both the parties and perused the records. 6. Ld. DR for the Revenue relied upon the order of Assessing Officer. 7. Per contra, ld. Counsel of the assessee supported the finding of the ld. CIT(A). He further submitted that document being relied upon by th....