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30. Now coming to assessee's appeal in I.T.A. No.591/Mds/2016.

31. The first issue arises for consideration is with regard to unexplained payment of `90 lakhs.

32. Shri S. Sridhar, the Ld.counsel for the assessee, submitted that the Assessing Officer found that the assessee has paid a sum of `30 lakhs to each of his three sisters, namely, Smt. Tamilarasi, Smt. Tamilselvi and Smt. Tamilkodi, for relinquishment of their right over the common family property. According to the Ld. counsel, in fact, only `10,50,000/- was paid to three sisters and the assessee's mother, which was reflected in the cash flow statement for the assessment year 2011-12. The seized receipt is undated and unsigned. Therefore, according to the Ld. counsel, it cannot be I.T.A. Nos.1315 & 1316/Mds/2016 I.T.A. Nos.590 to 592/Mds/2016 I.T.A. No.1443/Mds/2016 I.T.A. No.568/Mds/2016 relied upon for the payment said to be made to the assessee's sisters. In fact, the payment was made as per the release deed dated 31.05.2010. This also forms part of seized records. When the registered release deed discloses the payment of `10 lakhs and another amount of `50,000/-, according to the Ld. counsel, the Assessing Officer cannot presume that the assessee has paid `30 lakhs to each of his sisters on the basis of the undated and unsigned receipt. According to the Ld. counsel, when the registered release deed discloses payment of `10,50,000/-, the same has to be taken into consideration and not the unsigned so-called receipt. According to the Ld. counsel, when the release deed discloses the payment of `10 lakhs and another sum of ` 50,000/-, the Assessing Officer cannot make any addition on the basis of unsigned so-called receipt and the statement said to be recorded from the sisters of the assessee under Section 131 of the Act.

34. We have considered the rival submissions on either side and perused the relevant material available on record. During the course of search operation, a receipt dated 10.06.2010 was found. The assessee claims that the said receipt is not signed and not dated. The fact remains that the receipt was dated 10.06.2010 but it is not signed. A release deed was also executed and registered I.T.A. Nos.1315 & 1316/Mds/2016 I.T.A. Nos.590 to 592/Mds/2016 I.T.A. No.1443/Mds/2016 I.T.A. No.568/Mds/2016 on 31.05.2010. When the registered release deed discloses a payment of `10 lakhs and another payment of `50,000/- totalling to `10,50,000/-, this Tribunal is of the considered opinion that there cannot be any dispute about the receipt of money. The execution of release deed is also not in dispute. Therefore, it is not permissible for the parties to lead evidence, disputing the contents of the registered release deed. In other words, the contents of the release deed cannot be controverted on any oral evidence.

35. The question now arises for consideration is when there is oral evidence for payment of `30 lakhs to each of the sisters and the registered release deed discloses payment of `10,50,000/-, which one would prevail? This Tribunal is of the considered opinion that the oral statement or evidence cannot override the registered release deed. The registered release deed would prevail over all the oral evidence available on record. Moreover, the sisters, who were said to be examined under Section 131 of the Act, have also filed affidavit denying they have not received `30 lakhs. This affidavit is in conformity with the registered release deed. Therefore, this Tribunal is of the considered opinion that the oral I.T.A. Nos.1315 & 1316/Mds/2016 I.T.A. Nos.590 to 592/Mds/2016 I.T.A. No.1443/Mds/2016 I.T.A. No.568/Mds/2016 statement said to be recorded from the assessee or from sisters of the assessee cannot override the statement contained in the registered release deed and affidavit. Hence, the addition made by the Assessing Officer to the extent of `90 lakhs under Section 69C of the Act cannot stand in the eye of law. Accordingly, the orders of both the authorities below are set aside and the addition of `90 lakhs is deleted.