https://www.taxtmi.com/caselaws?id=415294 Deletion of an addition under section 69A was upheld where the alleged on-money receipts from flat sales rested on a single impounded letter and an unsupported assumption that the same differential amount applied to all sales. The Tribunal accepted the taxpayer's factual explanation that the first booking was cancelled, the token amount was refunded, and the flat was later sold to another purchaser at a lower agreed price, supported by affidavit and payment details. The High Court found the revenue authorities' approach conjectural, with no perversity or incorrect application of legal principles in the Tribunal's appreciation of evidence, and held that no substantial question of law arose. en-us Mon, 29 Nov 2021 00:00:00 +0530 Thu, 02 Dec 2021 08:52:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415294 Deletion of an addition under section 69A was upheld where the alleged on-money receipts from flat sales rested on a single impounded letter and an unsupported assumption that the same differential amount applied to all sales. The Tribunal accepted the taxpayer's factual explanation that the first booking was cancelled, the token amount was refunded, and the flat was later sold to another purchaser at a lower agreed price, supported by affidavit and payment details. The High Court found the revenue authorities' approach conjectural, with no perversity or incorrect application of legal principles in the Tribunal's appreciation of evidence, and held that no substantial question of law arose. Case-Laws Income Tax Mon, 29 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415294