https://www.taxtmi.com/caselaws?id=63082 The Income Tax Appellate Tribunal (ITAT) upheld the addition of Rs. 20,000 related to low yield of rice, deeming it justified and confirming the decision. Regarding the unexplained payments of Rs. 1,516 and Rs. 18,000, the ITAT directed a reassessment based on the provisions of section 69 of the Income Tax Act, 1961, limiting consideration to the preceding financial year and instructing the Income Tax Officer to determine the correct peak of credits. The ITAT allowed the appeal partly, subject to reassessment following specified guidelines for each issue. en-us Fri, 16 Feb 1979 00:00:00 +0530 Thu, 27 Jan 2011 17:36:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63082 The Income Tax Appellate Tribunal (ITAT) upheld the addition of Rs. 20,000 related to low yield of rice, deeming it justified and confirming the decision. Regarding the unexplained payments of Rs. 1,516 and Rs. 18,000, the ITAT directed a reassessment based on the provisions of section 69 of the Income Tax Act, 1961, limiting consideration to the preceding financial year and instructing the Income Tax Officer to determine the correct peak of credits. The ITAT allowed the appeal partly, subject to reassessment following specified guidelines for each issue. Case-Laws Income Tax Fri, 16 Feb 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63082