Assessee cannot be taxed for sale of property by director by misusing his position 

ACIT Vs Anush Infrastructure (P) Ltd (ITAT Chennai) Upon careful consideration of material facts, it could be gathered that the whole basis to make additions in the hands of the assessee is sale agreement dated 24.08.2009 allegedly executed between the assessee and one Mrs. Bhavika Jain. On the basis of this agreement, it has been alleged by Ld. AO that the assessee has received unaccounted money of Rs.200 Lacs on sale of land. However, as discernible from the order of Civil Court, the sale agreement has been declared null and void and Mrs. Bhavika Jain has been directed to hand over the origi...