https://www.taxtmi.com/caselaws?id=243909 An addition for alleged suppression of flat sale consideration could not stand on a mere comparison with one higher-priced transaction; the Revenue had to independently establish understatement on the facts of the other sales. The Tribunal noted that the assessee had offered a specific explanation based on the flat's special features and restrictive sale terms, and that supporting additional evidence had not been examined in assessment. The addition was therefore set aside and the matter remanded for fresh examination of the evidence and completion of assessment after giving the assessee due opportunity. en-us Wed, 14 Aug 2013 00:00:00 +0530 Thu, 13 Feb 2014 08:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243909 An addition for alleged suppression of flat sale consideration could not stand on a mere comparison with one higher-priced transaction; the Revenue had to independently establish understatement on the facts of the other sales. The Tribunal noted that the assessee had offered a specific explanation based on the flat's special features and restrictive sale terms, and that supporting additional evidence had not been examined in assessment. The addition was therefore set aside and the matter remanded for fresh examination of the evidence and completion of assessment after giving the assessee due opportunity. Case-Laws Income Tax Wed, 14 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243909