https://www.taxtmi.com/caselaws?id=469641 Unsubstantiated claims of sale consideration for agricultural land, cotton-sale income and unsecured loans were rejected where the assessee produced no reliable transfer deed, independent corroboration or satisfactory proof of creditors' genuineness and creditworthiness, so the additions were sustained. Land-sale profit was treated as taxable capital gains because revenue records and the local revenue official's statement showed no agricultural use for the relevant years, and no contrary material was produced. On the long-term capital gains rate for share sale, the company's listing status required verification, so that issue was remitted for fresh examination and consequential decision. en-us Wed, 03 Aug 2022 00:00:00 +0530 Thu, 25 Jun 2026 18:57:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469641 Unsubstantiated claims of sale consideration for agricultural land, cotton-sale income and unsecured loans were rejected where the assessee produced no reliable transfer deed, independent corroboration or satisfactory proof of creditors' genuineness and creditworthiness, so the additions were sustained. Land-sale profit was treated as taxable capital gains because revenue records and the local revenue official's statement showed no agricultural use for the relevant years, and no contrary material was produced. On the long-term capital gains rate for share sale, the company's listing status required verification, so that issue was remitted for fresh examination and consequential decision. Case-Laws Income Tax Wed, 03 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469641