https://www.taxtmi.com/caselaws?id=447121 ITAT Delhi set aside CIT(A)'s order deleting addition for understated sale consideration on property sale. AO relied on loose paper found during search at purchaser's premises showing sale consideration of Rs. 40 crores against declared Rs. 36.01 crores. CIT(A) accepted assessee's version without properly examining seized documents or addressing purchaser's non-compliance with summons. ITAT held CIT(A) failed to discharge quasi-judicial duties by not making proper enquiries and passing cryptic order without dealing with fundamental aspects. Matter remanded to CIT(A) for fresh determination after proper enquiries. Revenue's appeal allowed for statistical purposes. en-us Fri, 13 Oct 2023 00:00:00 +0530 Tue, 19 Dec 2023 09:01:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447121 ITAT Delhi set aside CIT(A)'s order deleting addition for understated sale consideration on property sale. AO relied on loose paper found during search at purchaser's premises showing sale consideration of Rs. 40 crores against declared Rs. 36.01 crores. CIT(A) accepted assessee's version without properly examining seized documents or addressing purchaser's non-compliance with summons. ITAT held CIT(A) failed to discharge quasi-judicial duties by not making proper enquiries and passing cryptic order without dealing with fundamental aspects. Matter remanded to CIT(A) for fresh determination after proper enquiries. Revenue's appeal allowed for statistical purposes. Case-Laws Income Tax Fri, 13 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447121