TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>ITAT Visakhapatnam Rules on Unexplained Property Investments; Sale Deed Cancellations Need Court Decree for Validity u/s 69.</h1> A recent ruling by the Income Tax Appellate Tribunal (ITAT) Visakhapatnam addresses unexplained investments in property transactions. Originating from a survey under section 133A of the Income Tax Act, 1961, the case involved a significant land purchase in Visakhapatnam. The Tribunal examined the legitimacy of claimed funding sources and the legal validity of cancellation deeds. It concluded that the cancellation of a sale deed requires a civil court decree to be valid, upholding the Income Tax Officer's additions under section 69. The judgment underscores the importance of proving the creditworthiness of investment sources and proper documentation in property transactions.
TaxTMI 
TaxTMI 