https://www.taxtmi.com/caselaws?id=769130 ITAT Jaipur remanded a case involving addition under section 56(2)(ix) where the assessee forfeited advance amounts received against land sale agreement. The tribunal found that the AO made incorrect observations without properly verifying documentary evidence and considering the merits of the dispute. The matter was remanded to AO for fresh consideration of factual aspects with due verification and proper opportunity of hearing to the assessee. The appeal was disposed of for statistical purposes with directions for cooperative proceedings. en-us Thu, 17 Apr 2025 00:00:00 +0530 Sat, 19 Apr 2025 08:32:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769130 ITAT Jaipur remanded a case involving addition under section 56(2)(ix) where the assessee forfeited advance amounts received against land sale agreement. The tribunal found that the AO made incorrect observations without properly verifying documentary evidence and considering the merits of the dispute. The matter was remanded to AO for fresh consideration of factual aspects with due verification and proper opportunity of hearing to the assessee. The appeal was disposed of for statistical purposes with directions for cooperative proceedings. Case-Laws Income Tax Thu, 17 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769130