The assessee purchased the land and sold to another buyer. Seller has given affidavit stating that the land was transferred for taking care. Addition was deleted. The Assessing was directed to make in depth investigation. (AY. 2010-11)
Didar Singh v. ITO (2021) 190 ITD 664 / 205 DTR 249 / 213 TTJ 473 (Amritsar)(Trib.)
S. 69 : Unexplained investments-Benami transaction-Purchased land for 1.59 crores and sold for Rs.1.62 crores-Land was transferred for taking care-Addition was deleted-Assessing Officer directed to make in depth investigation. [S. 147, 148]