https://www.taxtmi.com/caselaws?id=407515 Cash deposits explained through an Agreement to Sell and supporting affidavit could not be rejected without examining the underlying facts, including ownership, actual sale, transferee identity, and the consideration realised. A signed document could not be discarded casually, and any dispute about authenticity or signatures required proper enquiry, including forensic verification where necessary. The affidavit also could not be ignored without dealing with its contents and recording reasons. As the lower authorities had not made findings on the assessee's business or the surrounding circumstances, the addition was not sustained and the matter was remanded to the first appellate authority for fresh adjudication after proper enquiry and a reasonable opportunity of hearing. en-us Tue, 04 May 2021 00:00:00 +0530 Thu, 13 May 2021 08:28:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407515 Cash deposits explained through an Agreement to Sell and supporting affidavit could not be rejected without examining the underlying facts, including ownership, actual sale, transferee identity, and the consideration realised. A signed document could not be discarded casually, and any dispute about authenticity or signatures required proper enquiry, including forensic verification where necessary. The affidavit also could not be ignored without dealing with its contents and recording reasons. As the lower authorities had not made findings on the assessee's business or the surrounding circumstances, the addition was not sustained and the matter was remanded to the first appellate authority for fresh adjudication after proper enquiry and a reasonable opportunity of hearing. Case-Laws Income Tax Tue, 04 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407515