Addition for Cash Received Against Sale of Agricultural Land Not Disclosed In Sale Deed

Shri Jafrudin Kaji Vs The ITO (ITAT Ahmedabad) It is an undisputed fact that the assessee sold land for Rs.72 lakhs as evident from the sale deed. Therefore, the argument of the learned counsel for the assessee that the amount of cash deposits represents the sale consideration of agriculture land is without any substance. However, we note that the affidavit has been duly furnished by the assessee stating that the sum of Rs. 10 lakhs was received from the purchasers of agriculture land. Thus, in such circumstances and the interest of the justice, we feel that the AO should have verified the pur...