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

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