Tax Officer Denies Gift Transaction as Unexplained Money; Dispute Over Section 69A Applicability for Property Sale.

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....Unexplained money u/s. 69A - AO rubbished the entire transaction by dismissing the gift as the same was not evidenced by a registered gift deed - By no stretch of imagination provisions of section 69A can be applied on such transactions as the credit is outcome of the sale of property. - AT....