https://www.taxtmi.com/caselaws?id=64298 The ITAT ruled on multiple issues, allowing the assessee's appeal in part and dismissing the Revenue's appeal. Key outcomes included the deletion of additions for interest, unexplained FDR, and undisclosed income due to lack of corroborative evidence. The assessment was not time-barred, and interest levied u/s 158BFA(1) was deleted due to absence of a specific order. Deletions by CIT(A) regarding gifts and property sale consideration were upheld, affirming proper disclosure and lack of contrary evidence. The matter of non-filing of IT returns was remanded to the AO for verification. en-us Mon, 02 Aug 2004 00:00:00 +0530 Tue, 02 Jul 2024 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64298 The ITAT ruled on multiple issues, allowing the assessee's appeal in part and dismissing the Revenue's appeal. Key outcomes included the deletion of additions for interest, unexplained FDR, and undisclosed income due to lack of corroborative evidence. The assessment was not time-barred, and interest levied u/s 158BFA(1) was deleted due to absence of a specific order. Deletions by CIT(A) regarding gifts and property sale consideration were upheld, affirming proper disclosure and lack of contrary evidence. The matter of non-filing of IT returns was remanded to the AO for verification. Case-Laws Income Tax Mon, 02 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64298