https://www.taxtmi.com/caselaws?id=288833 Unexplained cash deposit additions under section 69 could not rest on unregistered sale deeds or an alleged gift from the assessee's father. After the 2001 amendments, an unregistered agreement to sell has no legal efficacy for section 53A of the Transfer of Property Act and cannot support a deemed transfer under section 2(47)(v) of the Income-tax Act. However, registered sale deeds in the record required limited verification to see whether sale proceeds were available with the father and could have been gifted to the assessee. The matter was therefore remanded for that restricted examination, and the addition was not sustained in its existing form. en-us Thu, 30 Nov 2017 00:00:00 +0530 Thu, 02 Jul 2020 07:41:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288833 Unexplained cash deposit additions under section 69 could not rest on unregistered sale deeds or an alleged gift from the assessee's father. After the 2001 amendments, an unregistered agreement to sell has no legal efficacy for section 53A of the Transfer of Property Act and cannot support a deemed transfer under section 2(47)(v) of the Income-tax Act. However, registered sale deeds in the record required limited verification to see whether sale proceeds were available with the father and could have been gifted to the assessee. The matter was therefore remanded for that restricted examination, and the addition was not sustained in its existing form. Case-Laws Income Tax Thu, 30 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288833