https://www.taxtmi.com/caselaws?id=279243 The High Court dismissed the appeal as it lacked merit, upholding the decision of the Commissioner of Income-tax (Appeal) and the Tribunal. The court found no substantial question of law involved, concluding that the payment for the land purchase was made through legitimate bank transactions, as evidenced by Pay Orders and Drafts from bank accounts. The addition made by the Assessing Officer under Section 40-A (3) of the Income-tax Act, 1961, was deleted, affirming that the purchase was conducted through an open auction by the High Court of Bombay. en-us Tue, 20 Nov 2012 00:00:00 +0530 Fri, 08 Mar 2019 18:39:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279243 The High Court dismissed the appeal as it lacked merit, upholding the decision of the Commissioner of Income-tax (Appeal) and the Tribunal. The court found no substantial question of law involved, concluding that the payment for the land purchase was made through legitimate bank transactions, as evidenced by Pay Orders and Drafts from bank accounts. The addition made by the Assessing Officer under Section 40-A (3) of the Income-tax Act, 1961, was deleted, affirming that the purchase was conducted through an open auction by the High Court of Bombay. Case-Laws Income Tax Tue, 20 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279243