Section 69 Property Addition Deleted – Agreement vs Sale Deed Difference Not Sufficient Evidence: ITAT Ahmedabad

ITO Vs Roopsingh Bhupal Singh (ITAT Ahmedabad) Addition u/s 69 on Alleged Property Investment Deleted – Difference Between Agreement & Sale Deed Not Sufficient Evidence – ITAT Ahmedabad AO reopened the assessment after noticing that the assessee had entered into an initial sale agreement for purchase of agricultural land at ₹5.22 crore, whereas the final registered sale deed reflected consideration of only ₹25.25 lakh. Treating the difference as unexplained investment,  AO added ₹2.48 crore (assessee’s 50% share) u/s 69, mainly due to non-compliance during assessment proce...