https://www.taxtmi.com/caselaws?id=466823 Admitted documentary evidence including bank payment records and an agreement established the factual basis for two purchase transactions, leading to the conclusion that an assessing addition for alleged unexplained consideration could not be sustained and the addition was deleted. Separately, the asset's holding period qualified it as a long term capital asset and the sale proceeds were reinvested in a residential property in accordance with statutory requirements; consequently the reinvestment exemption under Section 54 was allowed. Both substantive contentions were resolved in the assessee's favour on the evidentiary and qualifying transaction bases. en-us Mon, 24 Feb 2025 00:00:00 +0530 Fri, 20 Feb 2026 20:59:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466823 Admitted documentary evidence including bank payment records and an agreement established the factual basis for two purchase transactions, leading to the conclusion that an assessing addition for alleged unexplained consideration could not be sustained and the addition was deleted. Separately, the asset's holding period qualified it as a long term capital asset and the sale proceeds were reinvested in a residential property in accordance with statutory requirements; consequently the reinvestment exemption under Section 54 was allowed. Both substantive contentions were resolved in the assessee's favour on the evidentiary and qualifying transaction bases. Case-Laws Income Tax Mon, 24 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466823