No addition can be made merely on the basis of presumption

Sindhu Trade Links Ltd. Vs DCIT (ITAT Delhi)

It can be seen that the assessee company had purchased land at Tifra Bilaspur for Rs. 55,44,800/- including stamp duty and registration charges of Rs. 7,06,705/-. The Ld. DR submitted that as per the observations of the Assessing Officer there are certain purchases of land /properties where in the assessee company have shown lesser amount of purchase consideration than the possible / probable market value of the land. In fact the amount has been shown much below the stamp duty amo

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