Held that the adjacent land situated to the land in question sold by the vendors is for Rs. 5,00,000/-per acre which has not been disputed neither the assessee was unable to give any convincing reply to show how the vendor sold the adjacent land for Rs. 5,00,000/-per acre. Addition was confirmed. (AY. 2013-14 to 2015-16)
ACIT v. B.G. Channappa (2022) 64 CCH 56 / 216 TTJ 963 / 214 DTR 74 (Bang.)(Trib.)
S. 153A : Assessment-Search or requisition-Unexplained expenditure-Purchase of land-Addition was held to be justified. [S. 132]