https://www.taxtmi.com/caselaws?id=62251 The appeal involved a dispute over the source of funds amounting to Rs. 4 lakhs seized by Customs Department. The assessee initially claimed the funds were from a house sale but later stated they were raised from various sources for a house purchase. The Assessing Officer and Commissioner(A) accepted only part of the sources. The ITAT ruled in favor of the assessee for a loan from Shukoor and Rajan Ommen but confirmed an addition for a loan from Ommen George. The ITAT also allowed a partial deduction for the use of own timber in construction and upheld the CIT(A)'s decision on pepper sales relief. en-us Wed, 21 Sep 1994 00:00:00 +0530 Tue, 18 Jan 2011 17:57:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62251 The appeal involved a dispute over the source of funds amounting to Rs. 4 lakhs seized by Customs Department. The assessee initially claimed the funds were from a house sale but later stated they were raised from various sources for a house purchase. The Assessing Officer and Commissioner(A) accepted only part of the sources. The ITAT ruled in favor of the assessee for a loan from Shukoor and Rajan Ommen but confirmed an addition for a loan from Ommen George. The ITAT also allowed a partial deduction for the use of own timber in construction and upheld the CIT(A)'s decision on pepper sales relief. Case-Laws Income Tax Wed, 21 Sep 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62251