https://www.taxtmi.com/caselaws?id=750840 HC held that addition to the assessee's income based solely on a photocopy of an alleged agreement to sell was unsustainable. The original agreement was never produced, and no corroborative evidence supported the higher sale consideration recorded in the photocopy. Relying on SC precedent that tax authorities must base "reason to believe" on relevant, non-arbitrary material and that photostat copies have limited evidentiary value, HC found the reassessment proceedings invalid. Upholding ITAT, HC deleted the addition and decided the matter in favour of the assessee. en-us Mon, 04 Mar 2024 00:00:00 +0530 Sat, 22 Nov 2025 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=750840 HC held that addition to the assessee's income based solely on a photocopy of an alleged agreement to sell was unsustainable. The original agreement was never produced, and no corroborative evidence supported the higher sale consideration recorded in the photocopy. Relying on SC precedent that tax authorities must base "reason to believe" on relevant, non-arbitrary material and that photostat copies have limited evidentiary value, HC found the reassessment proceedings invalid. Upholding ITAT, HC deleted the addition and decided the matter in favour of the assessee. Case-Laws Income Tax Mon, 04 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=750840