INCOME TAX : Where tripartite agreement for purchase of land was entered into by and between sellers, purchaser i.e. assessee and TIPL as confirming party, and assesseee company and confirming parties were regularly assessed to tax and amount received was duly reflected in their books of accounts and source of payment made by assesseee had not been doubted by Assessing Officer, any addition treating said purchase as undisclosed investment could not have been made to assessee’s incomeINCOME TAX : Where tripartite agreement for purchase of land was entered into by and between sellers, purchaser i.e. assessee and TIPL as confirming party, and assesseee company and confirming parties were regularly assessed to tax and amount received was duly reflected in their books of accounts and source of payment made by assesseee had not been doubted by Assessing Officer, any addition treating said purchase as undisclosed investment could not have been made to assessee’s incomewww.taxmann.com Latest Case LawsRead More
