1984 (8) TMI 192

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..... nd according to the assessee he had taken a loan of Rs. 8,000 from his brother by mortgaging his agricultural land. This loan was taken on an agreement on stamped paper and according to the agreement the land of the assessee was pledged with his brother for taking the loan. The agreement was produced before the authorities below but no reliance was placed on this agreement between the assessee and .....

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..... creditor; having given the GIR number and having filed the confirmatory letter from the creditor did all that it could do and these three materials completely discharged the initial onus of the assessee under s.68 and as the revenue on its part did not summon the creditor under s. 131 and did not take any step to verify the statement of the assessee the onus which was shifted to the Department was .....

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..... es. In our opinion, though the loan agreement was not registered it was an agreement on a stamped paper and clearly showed all the facts including the identity and where abouts of the creditor. It could not be brushed aside as being no evidence at all by the Departmental authorities. The Departmental authorities did not take any step to issue summons to; the alleged creditor or to verify the actua .....

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