https://www.taxtmi.com/caselaws?id=413219 Section 50C valuation was applied using the registered sale deed date because the earlier sale agreement, executed on nominal stamp paper with only a small cash advance, was treated as a colourable device and did not qualify for first-proviso relief. The resulting addition was confirmed. Cash-deposit additions were not finally sustained because loan materials, cash-book entries and redeposit explanations constituted additional evidence requiring factual verification. The issue was remanded to the Assessing Officer for fresh consideration in accordance with law, leaving the appeal partly successful. en-us Mon, 27 Sep 2021 00:00:00 +0530 Thu, 07 Oct 2021 09:15:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413219 Section 50C valuation was applied using the registered sale deed date because the earlier sale agreement, executed on nominal stamp paper with only a small cash advance, was treated as a colourable device and did not qualify for first-proviso relief. The resulting addition was confirmed. Cash-deposit additions were not finally sustained because loan materials, cash-book entries and redeposit explanations constituted additional evidence requiring factual verification. The issue was remanded to the Assessing Officer for fresh consideration in accordance with law, leaving the appeal partly successful. Case-Laws Income Tax Mon, 27 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413219