https://www.taxtmi.com/caselaws?id=238321 The Tribunal upheld the rejection of the Assessee's deduction claim under Section 54F due to failure to meet construction timeline requirements. The addition of Rs. 64,34,143/- as business income was deleted as the Assessee was not engaged in business activities. However, the additions of Rs. 2,00,000/- as unexplained expenditure and Rs. 1,00,000/- as undisclosed income from scrap sale were deleted for lack of tangible evidence. The Assessee's appeal was partly allowed, and the Revenue's appeal was dismissed. en-us Fri, 11 Oct 2013 00:00:00 +0530 Mon, 21 Oct 2013 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238321 The Tribunal upheld the rejection of the Assessee's deduction claim under Section 54F due to failure to meet construction timeline requirements. The addition of Rs. 64,34,143/- as business income was deleted as the Assessee was not engaged in business activities. However, the additions of Rs. 2,00,000/- as unexplained expenditure and Rs. 1,00,000/- as undisclosed income from scrap sale were deleted for lack of tangible evidence. The Assessee's appeal was partly allowed, and the Revenue's appeal was dismissed. Case-Laws Income Tax Fri, 11 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238321