https://www.taxtmi.com/caselaws?id=285762 The Revenue's appeal against the deletion of an addition of suppressed sale consideration by the assessee for the assessment year 2010-11 was dismissed. The ITAT upheld the CIT(A)'s decision to delete the addition, citing lack of evidence of underhand transactions and accepting the reasonable explanation provided by the assessee for the pricing difference. Additionally, the justification for selling a flat at a lower rate compared to others in the same building was accepted by the CIT(A) and ITAT, as the lower price was attributed to locational disadvantages and was not below market or government-declared prices. en-us Fri, 12 Aug 2016 00:00:00 +0530 Sat, 25 Jan 2020 08:34:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285762 The Revenue's appeal against the deletion of an addition of suppressed sale consideration by the assessee for the assessment year 2010-11 was dismissed. The ITAT upheld the CIT(A)'s decision to delete the addition, citing lack of evidence of underhand transactions and accepting the reasonable explanation provided by the assessee for the pricing difference. Additionally, the justification for selling a flat at a lower rate compared to others in the same building was accepted by the CIT(A) and ITAT, as the lower price was attributed to locational disadvantages and was not below market or government-declared prices. Case-Laws Income Tax Fri, 12 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285762