Undisclosed investment u/s.69 - unaccounted payment on purchase ...

Invalid Statement u/s 131(1) Renders Income Addition for Undisclosed Investment in Land Unsustainable.

February 12, 2022

Case Laws Income Tax AT

Undisclosed investment u/s.69 - unaccounted payment on purchase of impugned land - Recording of the statement by survey team under section 131(1) is not valid. Thus, no cognizance of such statement could be taken. Hence, the addition which is solely based on the stamen is not legally sustainable. - AT

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Undisclosed investment u/s.69 - unaccounted payment on purchase ...

Invalid Statement u/s 131(1) Renders Income Addition for Undisclosed Investment in Land Unsustainable.

February 12, 2022

Case Laws Income Tax AT

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