Case Laws / Head Notes / Paras
---Unexplained income or assets---Agreement to sell---Cash payments---Iqrar Nama or agreement to sell was an established legal way of entering into a transaction involving immoveable property and the Department had not established that the requirements of law and procedure that needed to be fulfilled in this regard were not fulfilled by the taxpayer in any of the three Iqrar Namas executed between the taxpayer and the buyers of his property in village---Record, including the Bank Statement, confirmed that the cheque payments were received for sale of land at village and were duly credited in the account---Iqrar Namas showed that some amounts were received in cash---Total amount received in cash and through cheques, for sale of village land, were sufficient to prove investment in purchase o...
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