https://www.taxtmi.com/caselaws?id=341438 The ITAT dismissed the Revenue's appeal, upholding the CIT(A)'s decisions to delete additions under Section 40A(2)(b) of Rs. 1,31,00,000 and on undisclosed income from the sale of additional area of 2750 sq ft. The CIT(A) found lack of factual basis and corroborative evidence for the additions, citing commercial considerations and fair market value. The ITAT concurred, emphasizing the appellant's disclosures and the AO's presumption without concrete evidence. en-us Thu, 06 Apr 2017 00:00:00 +0530 Sat, 08 Apr 2017 09:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341438 The ITAT dismissed the Revenue's appeal, upholding the CIT(A)'s decisions to delete additions under Section 40A(2)(b) of Rs. 1,31,00,000 and on undisclosed income from the sale of additional area of 2750 sq ft. The CIT(A) found lack of factual basis and corroborative evidence for the additions, citing commercial considerations and fair market value. The ITAT concurred, emphasizing the appellant's disclosures and the AO's presumption without concrete evidence. Case-Laws Income Tax Thu, 06 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341438