https://www.taxtmi.com/caselaws?id=284450 The HC upheld deletion of the addition for unexplained investment in land because the evidence showed the purchase payments were sourced from sale proceeds received from another concern, and the initial payment was already explained in the hands of the co-owners. It also upheld deletion of the addition for unaccounted profit on sale of land because possession was handed over only after compromise of a civil dispute, so no transfer occurred during the relevant block period for section 2(47); the profit was assessable later. No substantial question of law arose, and the revenue challenge failed. en-us Mon, 04 Feb 2013 00:00:00 +0530 Tue, 19 Nov 2019 14:39:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284450 The HC upheld deletion of the addition for unexplained investment in land because the evidence showed the purchase payments were sourced from sale proceeds received from another concern, and the initial payment was already explained in the hands of the co-owners. It also upheld deletion of the addition for unaccounted profit on sale of land because possession was handed over only after compromise of a civil dispute, so no transfer occurred during the relevant block period for section 2(47); the profit was assessable later. No substantial question of law arose, and the revenue challenge failed. Case-Laws Income Tax Mon, 04 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284450