https://www.taxtmi.com/caselaws?id=326754 The Tribunal partly allowed the appeals in ITA Nos. 533/Hyd/2014 & 532/Hyd/2014, and fully allowed the appeal in ITA No. 534/Hyd/2014. The additions made based on the statement recorded during survey proceedings were deleted as the Tribunal found insufficient evidence to support them without corroborative evidence. The ad hoc addition of Rs. 10 Lakhs for discrepancies in expenses was reduced to Rs. 5 Lakhs, considering the nature of the construction business. The treatment of agricultural income as 'income from other sources' was upheld, as the AO's estimation was deemed reasonable. en-us Mon, 29 Feb 2016 00:00:00 +0530 Wed, 20 Apr 2016 11:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326754 The Tribunal partly allowed the appeals in ITA Nos. 533/Hyd/2014 & 532/Hyd/2014, and fully allowed the appeal in ITA No. 534/Hyd/2014. The additions made based on the statement recorded during survey proceedings were deleted as the Tribunal found insufficient evidence to support them without corroborative evidence. The ad hoc addition of Rs. 10 Lakhs for discrepancies in expenses was reduced to Rs. 5 Lakhs, considering the nature of the construction business. The treatment of agricultural income as 'income from other sources' was upheld, as the AO's estimation was deemed reasonable. Case-Laws Income Tax Mon, 29 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326754