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 assessmen

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