https://www.taxtmi.com/caselaws?id=177124 In ITA No. 516/PN/2012, an addition on account of unexplained expenditure in construction of residential premises was partially upheld by the ITAT, which directed a reduction in the valuation by 5% for self-supervision. In ITA No. 522/PN/2012, the addition on unexplained investment in a bungalow was deleted by the ITAT due to lack of incriminating material. The treatment of long-term capital gain as exempt u/s 10(38) was allowed by the ITAT in ITA No. 520/PN/2012, based on evidence of shares being held long-term. The addition for alleged commission expenditure for arranging bogus gain was deleted. The ITAT's decisions were applied to related appeals, resulting in partial or full allowance. en-us Tue, 30 Jul 2013 00:00:00 +0530 Mon, 04 Jan 2016 12:10:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177124 In ITA No. 516/PN/2012, an addition on account of unexplained expenditure in construction of residential premises was partially upheld by the ITAT, which directed a reduction in the valuation by 5% for self-supervision. In ITA No. 522/PN/2012, the addition on unexplained investment in a bungalow was deleted by the ITAT due to lack of incriminating material. The treatment of long-term capital gain as exempt u/s 10(38) was allowed by the ITAT in ITA No. 520/PN/2012, based on evidence of shares being held long-term. The addition for alleged commission expenditure for arranging bogus gain was deleted. The ITAT's decisions were applied to related appeals, resulting in partial or full allowance. Case-Laws Income Tax Tue, 30 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177124