Higher Sale Consideration vs. Deed Value – No Unexplained Income, Section 69A Addition Deleted: ITAT Cochin

Advertisement Chemangattu Jose John Vs DCIT (ITAT Cochin) Higher actual sale consideration Vs Lesser in registered sale deed- No unexplained Income- Addition u/s 69A deleted- ITAT Cochin Assessee sold two agricultural properties, the actual sale consideration of which was Rs.34 lakhs though as per registered deeds, the sale consideration was Rs.15.59 lakhs. AO made  treated Rs 18.41 lakhs as  unexplained  & made addition  u/s 69A on the ground that  assessee failed to give satisfactory reply. CIT(A) upheld the order of AO. Before the Tribunal,  Assesee argued that he  had no ...