Advance Payment for Purchase of Land and Deposit in Capital Gain Scheme Account Established: ITAT Dismisses Income Tax Dept’s Appeal [Read Order]

Advance Payment for Purchase of Land - Deposit in Capital Gain Scheme Account Established - Advance Payment - TAXSCAN

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that advance payment made for the purchase of land stand establish as the same was through a banking channels and the bank certificate of deposit in the capital bank account is duly established. The assessee Sant Singh had filed a return of income and the…

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