https://www.taxtmi.com/caselaws?id=448207 A unilateral registered cancellation deed does not, by itself, nullify a duly registered land purchase agreement in the absence of a civil court decree, with the effect that the original transaction remains legally operative. Sections 31, 32 and 33 of the Specific Relief Act, 1963 govern cancellation of instruments, and the document notes that this principle applies where an assessee seeks to undo an admitted investment in land. It also states that unexplained investment under section 69 may be sustained where the assessee fails to establish the source and creditworthiness of alleged investors, especially when partial relief has already been granted on enquiries. en-us Thu, 11 Jan 2024 00:00:00 +0530 Sat, 13 Jan 2024 08:37:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448207 A unilateral registered cancellation deed does not, by itself, nullify a duly registered land purchase agreement in the absence of a civil court decree, with the effect that the original transaction remains legally operative. Sections 31, 32 and 33 of the Specific Relief Act, 1963 govern cancellation of instruments, and the document notes that this principle applies where an assessee seeks to undo an admitted investment in land. It also states that unexplained investment under section 69 may be sustained where the assessee fails to establish the source and creditworthiness of alleged investors, especially when partial relief has already been granted on enquiries. Case-Laws Income Tax Thu, 11 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448207