TaxTMI 
TaxTMI 
2025 (12) TMI 1813
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....hannels and no cash paid by appellant for Purchase of Plot- (b) The Appellant has made a total payment of 34,33,027/-for the purchase of the land and development charges. The entire payment was made through the following banking bank channels. (d) There were no cash transactions involved in the purchase of the property, and therefore, the addition of 8,00,000/- on the basis of certain loose sheets and Excel files recovered from the premises of a third party ("Omaxe Group"), is baseless and unsupported by facts OR any relevant documentation. 2. Arbitrary and Baseless Interpretation of Amount in Excel Sheet- (a) The Ld. AO adopted an illogical and unverified assumption that the figure of 8,000/- mentioned in the Excel sheet ....
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....evidence of investment OR expenditure. 3. Brief facts of the case, as per order of the CIT (A) are as under: The case was re-opened u/s. 147 of the Act by issue of notice u/s. 148 dated 31.03.2023 based on the information received from Insight Portal of the Department uploaded by the DDIT/ADIT (Inv.)-2, Chandigarh that the appellant had purchased a flat from M/s Omaxe Group (project M/s Omaxe City, Yamuna Nagar) and paid cash amount of Rs. 8,00,000/- during the F.Y. 2018-19 relevant to A.Y. 2019-20. During the assessment proceedings, the AO issued notice u/s. 148, 143(2), 142(1), show cause notice to the appellant. In response, the appellant furnished written submission along with documentary evidences and also rai....
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....rcumstances of the case, I would like to apply the 'Theory of Human Probabilities' and 'Theory of Preponderance of Probabilities' in precedence over unreliable and inconsistent direct evidence filed by the assessee. In this regard, reliance is placed on the following decisions of Hon'ble Supreme Court and Delhi High Court wherein it was held that apparent was not real in all the cases and emphasized the importance of the surrounding circumstances and application of the test of 'Human Probabilities' to prove that the apparent was not real. e apparent was not real. In view of the above, after applying the 'Theory of Human Probabilities & concepts of substance over form' aided with various case laws....
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....oborative evidence, rationale, or lawful basis. (d) That the LD. AO's assumption that the entries maintained by the third party were deliberately reduced by two digits and therefore need to be multiplied by 100 is wholly conjectural and without application of mind. The appellant submits that such an arbitrary presumption is not supported by any material evidence relating to the appellant and violates the principles of natural justice. Ground No. 3: Lack of Corroborative Evidence for the Addition (a) The addition of Rs. 8,00,000/- is based solely on an Excel sheet found at the premises of Omaxe Group. There is no other corroborative evidence, such as receipts, bank statements, or statements from third....