Addition based on Fake Sale deed is not sustainable

 Shri Gopichand Chhabaria Vs. CIT (ITAT Ahmedabad) In this case, appellant had sold a bungalow located at Survey bno.1298, T.P.Scheme 15, Final Plot No. 173. It was having land area of 1130.50 sq.meters and constructed area of 894.90 sq.meters. The appellant sold property for Rs. 3,70,00,000/-. The sale deed was registered vide entry no. 1229. The appellant was having 1/5th share in the property. Appellant shown sale consideration for Rs. 74,00,000/- (3,70,00,000 * 20%). During the assessment proceedings under section 143(3), the AO issued a notice to the assessee that another sale d...