https://www.taxtmi.com/caselaws?id=277900 Excess consideration received over the registered sale deed value was held taxable in the seller's hands as income from other sources, because the declared deed terms could not be contradicted by oral evidence and surrounding circumstances showed the higher receipt was part of the transfer transaction. The purchaser's unexplained excess payment was also accepted in principle, but the matter was remanded to verify the source and quantify only the limited excess, including any amount attributable to subsequent resale proceeds. Penalty for concealment or furnishing inaccurate particulars was not leviable on the seller, as the receipt had been disclosed and the tax treatment was based on a bona fide belief. en-us Tue, 16 Jan 2018 00:00:00 +0530 Fri, 28 Dec 2018 11:37:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277900 Excess consideration received over the registered sale deed value was held taxable in the seller's hands as income from other sources, because the declared deed terms could not be contradicted by oral evidence and surrounding circumstances showed the higher receipt was part of the transfer transaction. The purchaser's unexplained excess payment was also accepted in principle, but the matter was remanded to verify the source and quantify only the limited excess, including any amount attributable to subsequent resale proceeds. Penalty for concealment or furnishing inaccurate particulars was not leviable on the seller, as the receipt had been disclosed and the tax treatment was based on a bona fide belief. Case-Laws Income Tax Tue, 16 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277900