https://www.taxtmi.com/caselaws?id=425257 An addition for unexplained investment in land under section 69B cannot be sustained merely on the basis of comparable purchases unless there is direct verification of the actual consideration or other cogent corroborative evidence. Where the seller is not examined, the seller's return and receipt of consideration are not verified, and no valuation reference is made, comparable rates alone do not conclusively prove extra payment. On those facts, the addition was deleted on merits, and the stamp duty value of the Sub-Registrar's Office was to be adopted as the purchase consideration per acre. en-us Fri, 15 Jul 2022 00:00:00 +0530 Tue, 19 Jul 2022 09:23:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425257 An addition for unexplained investment in land under section 69B cannot be sustained merely on the basis of comparable purchases unless there is direct verification of the actual consideration or other cogent corroborative evidence. Where the seller is not examined, the seller's return and receipt of consideration are not verified, and no valuation reference is made, comparable rates alone do not conclusively prove extra payment. On those facts, the addition was deleted on merits, and the stamp duty value of the Sub-Registrar's Office was to be adopted as the purchase consideration per acre. Case-Laws Income Tax Fri, 15 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425257