https://www.taxtmi.com/caselaws?id=270448 Section 69B could not be sustained where the sale deed recorded consideration matching the amount actually paid and there was no direct evidence of any extra payment. The ITAT held that section 50C, which deems stamp duty value for the seller's capital gains computation, cannot be imported against the purchaser to presume unexplained investment. For section 69B to apply, the Revenue had to establish actual unrecorded investment by the assessee, and mere stamp valuation or the label of an advance was insufficient. The explanation that registration was delayed because of mortgage constraints was also accepted, and the addition was deleted. en-us Fri, 16 Oct 2015 00:00:00 +0530 Wed, 06 Jan 2016 23:43:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270448 Section 69B could not be sustained where the sale deed recorded consideration matching the amount actually paid and there was no direct evidence of any extra payment. The ITAT held that section 50C, which deems stamp duty value for the seller's capital gains computation, cannot be imported against the purchaser to presume unexplained investment. For section 69B to apply, the Revenue had to establish actual unrecorded investment by the assessee, and mere stamp valuation or the label of an advance was insufficient. The explanation that registration was delayed because of mortgage constraints was also accepted, and the addition was deleted. Case-Laws Income Tax Fri, 16 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270448