https://www.taxtmi.com/caselaws?id=68620 The Tribunal upheld the reduction in the addition of undisclosed investment in property construction to Rs. 2,05,403, criticizing the AO's flawed estimation approach. The addition representing benami deposits in bank accounts was deleted by the CIT(A) due to evidence provided. The deletion of interest on deposits in family members' names was supported, as the status of the family members for interest income had been accepted. The disallowance of interest on funds advanced to family members was deleted, as no evidence of interest-bearing advances was presented. The deletion of a speculative loss was directed for reevaluation due to lack of proof regarding actual delivery of goods. en-us Fri, 11 Aug 2006 00:00:00 +0530 Mon, 16 Jul 2012 13:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68620 The Tribunal upheld the reduction in the addition of undisclosed investment in property construction to Rs. 2,05,403, criticizing the AO's flawed estimation approach. The addition representing benami deposits in bank accounts was deleted by the CIT(A) due to evidence provided. The deletion of interest on deposits in family members' names was supported, as the status of the family members for interest income had been accepted. The disallowance of interest on funds advanced to family members was deleted, as no evidence of interest-bearing advances was presented. The deletion of a speculative loss was directed for reevaluation due to lack of proof regarding actual delivery of goods. Case-Laws Income Tax Fri, 11 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68620