Section 68 Addition Deleted as Agreements to Sell Accepted as Valid Source of Capital

Anand Prakash Singh Vs ACIT (ITAT Delhi) ITAT Delhi order on Unexplained Capital Introduction u/s 68 – Relief Granted Where Source Linked to Sale of Ancestral Agricultural Land was Supported by ATS and Merely because a registered sale deed was not executed, the genuineness of consideration received under agreement to sell cannot be doubted Brief Facts: The assessee, an individual proprietor of M/s Nandini Processors, filed the return declaring income of ₹16,38,670 for AY 2016-17. The case was selected for limited scrutiny to examine: Source of capital introduced into business, and Investm...