https://www.taxtmi.com/article/detailed?id=12903 Re-assessment relied on Form 61A intelligence alleging a higher sale consideration; AO added the difference as unexplained income and applied special tax treatment. The assessee produced the sale deed and bank loan confirming a lower consideration and challenged jurisdictional compliance and applicability of the advance-tax proviso. The tribunal found the AO's assumption incorrect, accepted documentary proof of actual consideration and funding, and concluded the addition and application of the advance-tax requirement were unsustainable. en-us Thu, 05 Sep 2024 14:14:44 +0530 Thu, 05 Sep 2024 14:14:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12903 Re-assessment relied on Form 61A intelligence alleging a higher sale consideration; AO added the difference as unexplained income and applied special tax treatment. The assessee produced the sale deed and bank loan confirming a lower consideration and challenged jurisdictional compliance and applicability of the advance-tax proviso. The tribunal found the AO's assumption incorrect, accepted documentary proof of actual consideration and funding, and concluded the addition and application of the advance-tax requirement were unsustainable. Articles Income Tax Thu, 05 Sep 2024 14:14:44 +0530 https://www.taxtmi.com/article/detailed?id=12903