https://www.taxtmi.com/caselaws?id=177613 The court upheld the deletion of additions under Section 68 of the Income-tax Act as the amounts in question were received through a cheque from an NRI account, confirmed by the depositor. The court dismissed the appeal for question 1. Additionally, the court upheld the deletion of additions under Section 40A(3) for cash payments in regular business transactions, admitting the appeal for further consideration on questions 2 and 3. The treatment of an amount as income from long term capital gain instead of business income is yet to be finally decided, with the appeal admitted for further review. en-us Mon, 05 Aug 2013 00:00:00 +0530 Mon, 20 Feb 2017 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177613 The court upheld the deletion of additions under Section 68 of the Income-tax Act as the amounts in question were received through a cheque from an NRI account, confirmed by the depositor. The court dismissed the appeal for question 1. Additionally, the court upheld the deletion of additions under Section 40A(3) for cash payments in regular business transactions, admitting the appeal for further consideration on questions 2 and 3. The treatment of an amount as income from long term capital gain instead of business income is yet to be finally decided, with the appeal admitted for further review. Case-Laws Income Tax Mon, 05 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177613