https://www.taxtmi.com/caselaws?id=64224 The Tribunal held that the initial burden on the assessee was discharged regarding 18 creditors, but credits from four individuals were not satisfactorily established, resulting in a reduction of the addition to Rs. 1,25,000. Regarding the genuineness of expenditure, the Tribunal accepted most of the claimed expenses for development activities on the land, except for brokerage, disallowed due to lack of supporting material. The appeals were partly allowed, directing the AO to recompute the profit from the sale of land based on the Tribunal's decision on various expenditure items. en-us Wed, 31 Jul 1991 00:00:00 +0530 Sat, 05 Feb 2011 15:20:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64224 The Tribunal held that the initial burden on the assessee was discharged regarding 18 creditors, but credits from four individuals were not satisfactorily established, resulting in a reduction of the addition to Rs. 1,25,000. Regarding the genuineness of expenditure, the Tribunal accepted most of the claimed expenses for development activities on the land, except for brokerage, disallowed due to lack of supporting material. The appeals were partly allowed, directing the AO to recompute the profit from the sale of land based on the Tribunal's decision on various expenditure items. Case-Laws Income Tax Wed, 31 Jul 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64224