Matter set aside to test enforceability of agreement to sell vis-à-vis fresh affidavit

Hari Krishan Thaman Vs ITO (ITAT Chandigarh) ITAT Chandigarh set aside the addition u/s 69 of the Income Tax Act to the file of AO to test the enforceability of agreement to sell as per relevant statue vis-à-vis fresh affidavit. Facts- The assessee had deposited cash amounting to Rs. 43,15,000/- as auction money with M/s GLADA against sale of trees standing at Sidwa Kanal to MC Limit Ferozepur Road, Ludhiana. Basis the said information, the reasons for reopening were recorded and notice under section 148 was issued and served on the assessee on 30/03/2018. In response to the notice, the asses...