Without verification, documents signed by third party cannot be held to be colourable devise

Advertisement Ashok Gupta HUF Vs DCIT (ITAT Jaipur) ITAT Jaipur held that without considering the merits of the dispute and without verifying the veracity of the documents, the documents signed by third party cannot be directly held to be colorable devise. Accordingly, matter remanded to AO for due verification. Facts- As observed by AO, the fact is that the seized paper is an affidavit signed by Shri Ashok Gupta being Karta of Ashok Gupta HUF on 05.07.2017 as per which the assessee has agreed to sale the land under consideration of Rs. 87,50,000/- out of which amount of Rs. 20,01,000/-was ...