No addition for sale consideration outside books of account on mere presumptions

DCIT Vs M/s. Prominent Realtech Pvt. Ltd. (ITAT Delhi) The issue under consideration is whether Addition made on account of investment made outside books of account u/s 153C is justified in law? In the present case, the A.O, came to the conclusion that since assessee company purchased the same shares just after 05 days from TIDCL at a much lower price, therefore, assessee must have paid the sale consideration outside the books of account. Accordingly, A.O. in the assessment order held that assessee has paid to TIDCL outside books of account and made addition accordingly. It is an admitted fact...