Addition not allowed if based solely on Third Party Statement & if his Cross Examination not allowed by AO

Ram Niwas Gupta Vs. DCIT (ITAT Delhi) The fact shows that sale deed was found during the course of search where the transaction value of the property was shown at INR 2,420,000 and market value of the property was INR 7,865,000. On the basis of this evidence revenue carried out post search enquiries with the sellers. The sellers in their statement on oath stated that along with the above sale deed another agreement was entered on 16/12/2009 with other parties where the sale consideration was stated to be of INR 5,700,000. The sellers also confirmed having received the cash amount and also depo...