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2013 (3) TMI 267 - HC - Income TaxAdoption of sale consideration - Difference in sale consideration in books of buyer and seller - In the agreement of sale dated 9.9.1999, the sale consideration was stated as Rs.6,48,000/-; whereas the sale deed was executed on 21.08.2000 stating the sale consideration as Rs.2,33,760/-. - In her return, the purchaser of the property shown that an amount of Rs.6,48,000/- was invested for purchase of the property - Held that:- As pointed out by the Tribunal, it would be an anomaly if in the case of purchaser the sale consideration of Rs.6,48,000/- is accepted and it is not accepted in the case of the seller. Referring to the recitals in the agreement of sale and that it was executed by Asiya Basheer, wife of assessee which is substantiated by the income tax returns filed by the purchaser, the AO rightly held that sale consideration was Rs.6,48,000/- which was confirmed by the CIT(Appeals) and the Tribunal. No legal infirmity warranting interference with the order of the Tribunal. The substantial question of law raised in this appeal is answered infavour of the revenue and Tax Case (Appeal) is dismissed.
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