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41. Further there was also an agreement brought on record which is placed page Nos. 252 to 253 PB I wherein the assessee entered into development agreement with Sri Madhusudana Naidu on 20.6.2007 for development of property for Rs. 60 lakhs. It is also brought on record that the CIT(A) in the case of Sri Madhusudana Naidu vide order dated 12.8.2011 for A.Y. 2008-09 accepted the plea of Sri Madhusudana Naidu that contract was only for Rs. 60 lakhs and Rs. 60 lakhs is for eviction of encroachers. The CIT(A)'s order is placed at page Nos. 234 to 238 of assessee's Paper Book-I. Being so, considering all these facts, we are not in a position to hold that the assessee has paid Rs. 60 lakhs in cash to Sri Madhusudana Naidu vide unsigned agreement dated 17.6.2007 found during the course of search action. Further we also make it clear that the statement recorded from Sri P. Mohana, Manager of the assessee firm nor of Sri Madhusudana Naidu cannot be conclusive evidence unless it is supported by corroborative material. The statements were recorded by these two persons on the basis of unsigned agreement which was not acted upon. Being so, it is not possible to hold that the assessee has paid any money over and above Rs. 60 lakhs which was paid by cheque. Accordingly, this ground of the assessee is allowed.