https://www.taxtmi.com/caselaws?id=257171 Undervaluation-based additions could not be sustained where the recorded compromise, continued non-conveyance of title, and later dispute among legal representatives explained the purchaser's subsequent payment. The valuation dispute had to rest on objective material, and suspicion arising only from the later conveyance date was insufficient. The Tribunal's conclusion that the Assessing Officer's and DVO-based additions lacked adequate evidentiary support was upheld in law, and no substantial question of law arose. The Revenue's challenge failed and the assessment additions were not restored. en-us Fri, 20 Feb 2015 00:00:00 +0530 Wed, 04 Mar 2015 09:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257171 Undervaluation-based additions could not be sustained where the recorded compromise, continued non-conveyance of title, and later dispute among legal representatives explained the purchaser's subsequent payment. The valuation dispute had to rest on objective material, and suspicion arising only from the later conveyance date was insufficient. The Tribunal's conclusion that the Assessing Officer's and DVO-based additions lacked adequate evidentiary support was upheld in law, and no substantial question of law arose. The Revenue's challenge failed and the assessment additions were not restored. Case-Laws Income Tax Fri, 20 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257171