Dismissing the appeal of the assessee the Tribunal held that , as per family settlement, property was transferred in her name without monetary consideration but sale deed clearly showed that assessee had paid consideration in cash therefore the said investment of assessee was treated as unexplained investment. ( AY.2009-10)
Mahendri Devi v. ITO (2018) 170 ITD 181 (Delhi) (Trib.)
S.69: Unexplained investments –Family settlement- Sale deed showed cash consideration was paid therefore addition as unexplained investment was held to be justified .