https://www.taxtmi.com/caselaws?id=441938 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1.50 Cr as unexplained money under section 69A of the IT Act, 1961. It ruled that the unsigned Agreement to Sell (ATS) found in a third party's possession was not sufficient evidence to invoke section 69A, as there was no proof of cash exchange between the parties and the ATS did not result in a registered sale deed. The Tribunal also held that the presumption under section 292C could not be applied without corroborative evidence, ultimately dismissing the Revenue's appeal. en-us Thu, 17 Aug 2023 00:00:00 +0530 Sun, 20 Aug 2023 12:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441938 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1.50 Cr as unexplained money under section 69A of the IT Act, 1961. It ruled that the unsigned Agreement to Sell (ATS) found in a third party's possession was not sufficient evidence to invoke section 69A, as there was no proof of cash exchange between the parties and the ATS did not result in a registered sale deed. The Tribunal also held that the presumption under section 292C could not be applied without corroborative evidence, ultimately dismissing the Revenue's appeal. Case-Laws Income Tax Thu, 17 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441938