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2012 (7) TMI 280 - ITAT, DELHIDifference in the investment as shown by the assessee and as ascertained by DVO - CIT(A)deleted the addition considering disregard of legal provision of section 142A - Held that:- Provisions of section 142A can be invoked only where the assessee is first found to have made investment outside the books of accounts or where any such investment made by him is not fully disclosed in the books of accounts. It is only once this condition is satisfied, then the AO is entitled to make a reference u/s 142A to ascertain the quantum of such investment for making the addition u/s 69 or 69B. In the instant case however, there is nothing to suggest that any incriminating document was found and seized during the course of search or survey in the premises of the aforesaid groups and no reference whatsoever has been made by the AO to any material/evidence/information on the basis of which he could have found that the consideration shown by the assessee was less than the amount actually paid by him. Thus the condition precedent for making a reference to the DVO is not satisfied in the instant case - the primary burden of proof to prove the understatement or concealment of income is on the revenue and it is only when such burden is discharged that it would be permissible to rely upon the valuation given by the DVO - in favour of assessee.
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