Unexplained deposits - Genuineness of earnest money received ...

Case Laws Income Tax

August 6, 2020

Unexplained deposits - Genuineness of earnest money received against sale of agriculture land - Time lag of 11 months for getting the sale deed registered after the date of agreement to sale - What is normal for a person today may vary from what is contemplated to be normal in another day and time. So for the tax authorities to conclude that three months’ time lag was a normal time, no facts or reasoning has been brought on record. - AT

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Unexplained deposits - Genuineness of earnest money received ...

Case Laws Income Tax

August 6, 2020

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