https://www.taxtmi.com/caselaws?id=771275 ITAT Kolkata allowed the assessee's appeal against addition of unexplained money. The AO made addition alleging amount introduced through property sale, but the tribunal found the addition was based on wrong facts. The land was actually purchased by 41 persons from individual sellers, not from the company as alleged. The competent authority under Benami Property Transactions Act, 1988 had examined the transaction and confirmed the company's role in the conveyance deed. The tribunal relied on a coordinate bench decision in similar circumstances and deleted the addition. en-us Tue, 01 Apr 2025 00:00:00 +0530 Fri, 23 May 2025 08:46:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771275 ITAT Kolkata allowed the assessee's appeal against addition of unexplained money. The AO made addition alleging amount introduced through property sale, but the tribunal found the addition was based on wrong facts. The land was actually purchased by 41 persons from individual sellers, not from the company as alleged. The competent authority under Benami Property Transactions Act, 1988 had examined the transaction and confirmed the company's role in the conveyance deed. The tribunal relied on a coordinate bench decision in similar circumstances and deleted the addition. Case-Laws Income Tax Tue, 01 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771275