associate - In search conducted at premises of 'KM', an unsigned MoU, reflecting
transaction for purchase of 95 acres of land between assessee ... admitted by 'KM' vide unsigned MoU and,
therefore, he treated difference between these two amounts
Memorandum of Understanding (MoU) and
that the respondent is being paid the DA based on the said MoU.
Further submissions ... have been made that the Tribunal has
wrongly held that the unsigned MoU was produced by the
petitioners, whereas the same was produced
further submitted that the terms
and conditions is mentioned in the unsigned Draft MOU when read in
totality clearly signifies that the amounts mentioned therein ... alternate submitted
that even if it is presumed that the unsigned MOU under reference was
executed, the amount mentioned therein do not signify earning
submitted that there is a clause in the proposed MOU where the
appellant company has to supply materials for construction to M/s Manar
Developers ... context, it may be noted that the MOU found during the course
of the survey was
unsigned by the appellant. The AO has not found
failed to appreciate that the MOU
stamp paper was not having any serial number thereby the
genuineness of MOU instrument is questionable ... MOU instrument is
questionable.
4. The learned CIT(A) has failed to appreciate that the MOU
document lacks credibility since the same was unsigned
should not have relied upon
the contents of an unsigned Memorandum of Understanding ('MoU' in short) as
admission of debt. Though
should not have relied upon
the contents of an unsigned Memorandum of Understanding ('MoU' in short) as
admission of debt. Though
adjudicate these issues, the 2.0 Agreement
(Ex.P1) and the Kaala MoU (Ex.P7) should be examined. The 2.0
Agreement stipulates that ... Kaala MoU
stipulates that the ''price will be mutually decided between the parties in due
course''. Thus, the Kaala MoU does
dispute that the learned lower authorities had
allegedly come across an MOU between the assessee/co-vendor alongwith
Mrs. Sheetal Sanjay Nikam & Mrs. Surekha ... undisclosed income by
the Assessing Officer after placing reliance of above stated MOU as well as the
search statement(s) recorded
Spml Infra Limited vs East India Udyog Limited on 18 January, 2022
Author: Prakash Shrivastava
