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Section 68 Addition Deleted as Agreements to Sell Accepted as Valid Source of Capital
Case Law Details
- Case Name
- Anand Prakash Singh Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Delhi
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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 busi...
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