Unsigned Agreement to Sell- Not Valid Evidence for Sec. 69/69B- Cannot Justify Addition

Balwant Singh Vs D/ACIT (ITAT Chandigarh)

Unsigned Agreement to Sell- Not Valid Evidence for Sec. 69/69B- Cannot Justify Addition

Assessee was subjected to search u/s 132 on 28.01.2021. AO, in assessment u/s 153A r.w.s. 143(3), made addition of ₹13 lakhs treating it as unexplained investment in Plot No. 3, Divine Enclave, Bathinda, on the basis of an unsigned agreement to sell seized during search. CIT(A) upheld addition, presuming agreement as executed & registered.

Before Tribunal, Assessee argued that:

• The seized agreement was unsigned, unregiste

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