During the course of search proceedings a draft\u00a0 agreement on the WhatsApp of the mobile of shri Alkesh Patel the partner of the firm was found where in the sale consideration was shown much higher than the actual sale consideration shown in the registered sale agreement . The Assessing Officer\u00a0 computed the capital gain on the basis of rough draft agreement on the basis of agreement found on the\u00a0 WhatsApp\u00a0 of the partner . CIT(A) affirmed the order of the Assessing Officer .On appeal the Tribunal held that the Assessing Officer has not supported his finding\u00a0 with any corroborative and conclusive evidence in spite of the fact that on mobile whatsApp it was\u00a0 stated that the same was a rough draft proposal . Neither any independent verification from the broker , buyers , nor the Assessing Officer has obtained any independent sources i. e. DVO . Accordingly the Tribunal deleted the addition . \u00a0\u00a0\u00a0( ITA No. 7332 \/Mum\/ 2018 dt . 30 -1 -2023 )( AY. 2014 -15<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 68 : Cash credits \u2013 Search \u2013 Draft agreement found on WhatsApp- Sales consideration as per registered agreement has to be accepted as actual sales consideration \u2013 Addition was deleted . [ S. 132 ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-34862","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-94i","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34862","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=34862"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34862\/revisions"}],"predecessor-version":[{"id":34863,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34862\/revisions\/34863"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=34862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=34862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=34862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}