Identity of Parties, Share Applicant, Vendor, Promoters and Genuineness of Transaction of Land is duly established: ITAT deletes addition of ₹3 Cr [Read Order]
The genuineness of the transaction was also duly established. Accordingly, the appeal of the assessee for Rs. ₹ 3, 25, 08,000/- was allowed.
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of 3 crore Rupees, finding that the identity of the parties, share applicants, vendors, and promoters, as well as the genuineness of the land transaction, was duly established. The assessee was in appeal against the confirmation of the addition of…
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