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2017 (7) TMI 1140 - AT - Income TaxUnexplained source of cash balance - sale of property - contention of the assessee that he has received ₹ 12 lakhs, but registered the document only for ₹ 2.04 lakhs - Held that:- The agreement produced by the assessee was not registered and hence, we are unable to accept the same as valid evidence - Once the immovable property is registered, the sale consideration in the registered sale document is considered to be the final consideration, since the stamp duty and other taxes for transfer of property was paid as per the consideration recorded in the registered sale deed. The contention of the assessee that he has received ₹ 12 lakhs, but registered the document only for ₹ 2.04 lakhs is not acceptable argument and such double standards are not acceptable as held by Hon’ble Supreme Court in the case of Coimbatore Spinning & Weaving Co. Ltd (1973 (3) TMI 27 - MADRAS HIGH COURT) The source of cash balance as on 01-04-2010 amounting to ₹ 14,79,100/- remained unexplained and rightly confirmed by the Ld. CIT(A). - Decided against assessee
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