ASST COMMISSIONER OF INCOME TAX, BIKANER vs. MUKESH SHAH, SRIGANGANAGAR

In the result, the appeal of the revenue is dismissed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

penny has been shown as advance amount paid to any party for purchasing their land therefore, the claim of the assessee regarding negotiation for procurement of land is not acceptable. In view of the above discussion, the cash deposit of Rs 80,00,000/- was added to income of the assessee under the provisions of section 68 r.w.s. 115BBE