During the search, certain loose papers and extracts of WhatsApp chat were recovered. Assessing Officer stated that on verification of the WhatsApp message in the form of an Excel sheet, it was found that the actual sale value of flats was different from the agreement value. Assessing Officer completed under section 153C wherein an addition was made under section 69A on account of the on-money received on the sale of flats. CIT(A)\u00a0 deleted the additions. On appeal, the Tribunal held that the assessee had duly furnished comprehensive documentary evidence substantiating its claim, including sale agreements, cancellation deeds, and corresponding banking transactions. Further, all transactions were executed at values exceeding stamp duty valuation and were fully compliant with the provisions of section 43CA. Tribunal held that the WhatsApp message relied upon by the Assessing Officer was uncorroborated, and there was no independent supporting evidence. Order of CIT(A) deleting the addition was affirmed.(AY. 2018-19, 2019-20)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 69A: Unexplained money-On money-Sale of flats-Uncorroborated document-WhatsApp chat-No independent supporting evidence-Order of CIT(A) deleting the addition was affirmed.[S. 43CA, 153C] <\/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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-61177","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fUJ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61177","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=61177"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61177\/revisions"}],"predecessor-version":[{"id":61178,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61177\/revisions\/61178"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=61177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=61177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=61177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}