Section 69A of the Income-tax Act, 1961 - Unexplained money (Bank deposits) - Assessment year 2007-08 - During assessment proceedings, Assessing Officer found that assessee had deposited certain amount in his bank account - Assessee's explanation was that said amount represented difference between amount shown in registered sale deed of property and amount actually received in cash - Assessing Officer rejected assessee's explanation and added said amount to his taxable income under section 69A- It was noted that no evidence on record was taken into consideration for valuation of specific piece of land at relevant point of time - Whether since no effort had been made by revenue authorities to look into position qua buyer, impugned order was to be set aside and, matter was to be remanded back for disposal afresh - Held, yes [Para 8][Matter remanded]
Refer: [2020] 113 taxmann.com 266 (Chandigarh - Trib.)
IN THE ITAT CHANDIGARH BENCH 'B'
Raghubir Singh v. Income Tax Officer, Ward-4, Ambala*
Refer: [2020] 113 taxmann.com 266 (Chandigarh - Trib.)
IN THE ITAT CHANDIGARH BENCH 'B'
Raghubir Singh v. Income Tax Officer, Ward-4, Ambala*
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