https://www.taxtmi.com/caselaws?id=778631 ITAT held the AO was not justified in treating the purchase as an unexplained investment under s.69. The assessee's contention that the registered sale consideration represented adjustment of an outstanding liability, not cash payment, was supported by the buyer's confirmation and ledger entries. The tribunal restored the matter to the file of the AO for detailed verification, directing the AO to examine relevant persons and carry out any further inquiries deemed necessary. en-us Wed, 03 Sep 2025 00:00:00 +0530 Fri, 19 Sep 2025 08:33:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778631 ITAT held the AO was not justified in treating the purchase as an unexplained investment under s.69. The assessee's contention that the registered sale consideration represented adjustment of an outstanding liability, not cash payment, was supported by the buyer's confirmation and ledger entries. The tribunal restored the matter to the file of the AO for detailed verification, directing the AO to examine relevant persons and carry out any further inquiries deemed necessary. Case-Laws Income Tax Wed, 03 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778631