Sec. 69B additions couldn’t be made by presuming high purchase value of land on basis of amount of stamp duty paid

INCOME TAX: Where Commissioner invoked revision jurisdiction for reason that against consideration of Rs. 45.61 lakh paid by assessee, for purchase of land stamp duty of such higher amount of Rs. 22.90 lakh was paid, thus, it was to be presumed that value of property would be higher and there was an undisclosed investment made by assessee, as per section 69B, since no addition could be made under said section merely on basis of presumption, impugned revision was unjustified

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