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2018 (6) TMI 1606 - AT - Income TaxUnexplained investment u/s.69B - addition is made solely on the basis of market value of land, as adopted by the sub-registrar, as true value of purchase of land - HELD THAT:- As decided in VIRJIBHAI KALYANBHAI KUKADIA [2012 (10) TMI 791 - ITAT AHMEDABAD] provisions of Sec.50C cannot be applied for making addition u/s. 69B. In the present case, since the A.O. has relied on the jantry rates without bringing any material on record to prove that assessee has in fact made investments over and above than that recorded in the books, no addition can be made in the present case and therefore no interference is called for to the order of CIT(A). - Decided against revenue.
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