https://www.taxtmi.com/caselaws?id=13351 The High Court ruled in favor of the appellant, ordering the deletion of the estimated addition in the sale consideration. The court found discrepancies in the Assessing Officer's conclusions regarding the income from undisclosed sources and the description of the property in the sale deed. It emphasized the lack of substantial evidence to support the Assessing Officer's decisions and agreed with the Commissioner of Income-tax (Appeals) and Tribunal's findings. The court also highlighted the lack of justification for increasing the sale consideration by 8 per cent and dismissed the appellant's claims of perversity in the assessing authority's findings. en-us Thu, 09 Mar 2006 00:00:00 +0530 Thu, 28 May 2009 13:41:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13351 The High Court ruled in favor of the appellant, ordering the deletion of the estimated addition in the sale consideration. The court found discrepancies in the Assessing Officer's conclusions regarding the income from undisclosed sources and the description of the property in the sale deed. It emphasized the lack of substantial evidence to support the Assessing Officer's decisions and agreed with the Commissioner of Income-tax (Appeals) and Tribunal's findings. The court also highlighted the lack of justification for increasing the sale consideration by 8 per cent and dismissed the appellant's claims of perversity in the assessing authority's findings. Case-Laws Income Tax Thu, 09 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13351