https://www.taxtmi.com/caselaws?id=71915 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income-tax (Appeals) [CIT(A)]'s decisions in a case involving disallowance of construction expenses, deletion of addition under section 68 for unexplained deposits, and deletion of addition under section 68 for unexplained gifts. The ITAT found the profit rate for construction expenses reasonable, established the genuineness of the loan transaction, and confirmed the validity of the gift received from a close relative. Both the revenue and the assessee's appeals were dismissed by the ITAT. en-us Fri, 26 Dec 2008 00:00:00 +0530 Thu, 28 Apr 2011 10:33:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71915 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income-tax (Appeals) [CIT(A)]'s decisions in a case involving disallowance of construction expenses, deletion of addition under section 68 for unexplained deposits, and deletion of addition under section 68 for unexplained gifts. The ITAT found the profit rate for construction expenses reasonable, established the genuineness of the loan transaction, and confirmed the validity of the gift received from a close relative. Both the revenue and the assessee's appeals were dismissed by the ITAT. Case-Laws Income Tax Fri, 26 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71915