2010 (2) TMI 262 - PUNJAB & HARYANA HIGH COURT

Income from undisclosed sources- The Tribunal held that the ostensible sale consideration of the land disclosed in the registered sale deed dated September 24, 2002 deserved to be added to the income of the assessee. The Tribunal disregard the statement made on affidavit by the vendors who were the uncle of the assessee. They had stated that no sale consideration had passed hands and they had relinquishing their share in the landed property. The object of executing the sale deed was only to hand over landed property to the assessee. Held that- the ostensible sale consideration disclosed in the sale deed had to be accepted and it could not be contradicted by adducing any oral evidence. Therefore, the order of the Tribunal did not suffer from any legal infirmity. The amount shown in the registered sale deed was received by the vendors and deserved to be added to the gross income of the assessee.