https://www.taxtmi.com/caselaws?id=172273 The High Court upheld the decisions of the Revenue Authorities regarding the addition of Rs. 7,00,000 to the appellant-assessee's income from the sale of agricultural land. The Court determined that the agreement claiming the amount as earnest money forfeited was fabricated to evade tax liability. Various discrepancies in the transaction and financial inconsistencies of the buyer supported the conclusion that the agreement was a sham. The Court found no legal basis to intervene and dismissed the appeal. en-us Tue, 03 Feb 2009 00:00:00 +0530 Tue, 18 Aug 2015 12:01:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172273 The High Court upheld the decisions of the Revenue Authorities regarding the addition of Rs. 7,00,000 to the appellant-assessee's income from the sale of agricultural land. The Court determined that the agreement claiming the amount as earnest money forfeited was fabricated to evade tax liability. Various discrepancies in the transaction and financial inconsistencies of the buyer supported the conclusion that the agreement was a sham. The Court found no legal basis to intervene and dismissed the appeal. Case-Laws Income Tax Tue, 03 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172273