https://www.taxtmi.com/caselaws?id=151411 The Revenue's appeal against the deletion of an addition under section 69B of the Income-tax Act, 1961 was dismissed. The case involved discrepancies in the declared consideration for a property purchase. The Assessing Officer's addition was based on stamp duty valuation, but the Commissioner ruled that section 50C applies to sellers, not buyers. Without evidence of actual higher consideration, the addition was deemed unjustified. Legal interpretations and precedents emphasized the need for independent evidence to support additions for undisclosed investments, leading to the dismissal of the Revenue's appeal. en-us Fri, 04 Dec 2009 00:00:00 +0530 Mon, 06 Jun 2016 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151411 The Revenue's appeal against the deletion of an addition under section 69B of the Income-tax Act, 1961 was dismissed. The case involved discrepancies in the declared consideration for a property purchase. The Assessing Officer's addition was based on stamp duty valuation, but the Commissioner ruled that section 50C applies to sellers, not buyers. Without evidence of actual higher consideration, the addition was deemed unjustified. Legal interpretations and precedents emphasized the need for independent evidence to support additions for undisclosed investments, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Fri, 04 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151411