Survey cannot be based only for treating on-money when purchaser as well as registered sale documents state amount of purchase clearly without contradiction: ITAT deletes addition [Read Order]

Survey - sale documents - contradiction - ITAT - ITAT deletes addition - addition - income tax act - taxscan

The Ahmedabad bench of the Income Tax Appellate Tribunal held that the survey cannot be only based for treating the said amount as on-money and when the purchaser as well as registered sale documents stating the amount clearly. The assessee raised the appeal on the grounds that the learned CIT(A) grievously erred in confirming the…

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