COMMNR. OF INCOME TAX, SALEM vs P.V. KALYANASUNDARAM

The Supreme Court upheld the decision of the Income-tax Appellate Tribunal, which had dismissed the Revenue's appeal under Section 260A of the Income-tax Act, 1961, stating that no substantial question of law arose. The Court found that the statements made by the vendor regarding the sale price were unreliable and that the valuation claimed by the Revenue was unrealistic. Consequently, the addition of undisclosed income made by the Assessing Officer was deleted, affirming the Tribunal's findings on the matter.