Held, that the party who paid the cash to the assessee for purchasing the land was unable to submit registered deed related to transfer of property. The total transfer of the land was incomplete without a registered deed of the property. But the assessee argued that the source of the cash was proved on basis of this transaction. The issue was set aside to the Assessing Officer for verification.(AY. 2011-12)
Tajinder Pal Kaur (Smt.) v. ITO (2023)101 ITR 292 (Amritsar) (Trib)
S. 68 : Cash credits-Failure by assessee to disclose cash deposits-Assessee submitted power of attorney and agreement before Department-Instrument not accepted-Party who paid cash unable to provide registered deed relating to transfer of property-Matter set aside and remanded to verify purchase of property.