Section 269SS & 269T not applicable to Cash Payment/receipt for purchase of land

Rajesh Vitthal Badade Vs JCIT (ITAT Pune) It is found as an admitted position that the AO recorded statement of Mr. Sampat G. Mandhare and Mrs. Dropadabai Fakirrao Harpale, who had given sum of Rs. 5.00 lakh and Rs.7.00 lakh respectively to the assessee as advance for purchase of the land. Here it is relevant to mention that the AO accepted in the assessment that the amounts were received and repaid by the assessee from these two persons, which is fortified by the fact that he did not make any addition towards the source of the deposit of FDRs in the assessment. Both of them appeared before th...