https://www.taxtmi.com/caselaws?id=56084 The Tribunal allowed the appeal, directing the ITO to delete the addition of Rs. 1,02,001 and withdraw the loss of Rs. 160. It concluded that the provisions of section 52(1) were not attracted, as the transactions were genuine with no evidence of tax avoidance or understatement of consideration. The Tribunal found no motive to avoid tax and emphasized the validity of the transactions accepted by the department. en-us Thu, 30 Nov 1989 00:00:00 +0530 Wed, 01 Dec 2010 15:13:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56084 The Tribunal allowed the appeal, directing the ITO to delete the addition of Rs. 1,02,001 and withdraw the loss of Rs. 160. It concluded that the provisions of section 52(1) were not attracted, as the transactions were genuine with no evidence of tax avoidance or understatement of consideration. The Tribunal found no motive to avoid tax and emphasized the validity of the transactions accepted by the department. Case-Laws Income Tax Thu, 30 Nov 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56084