https://www.taxtmi.com/caselaws?id=362293 The Tribunal allowed the assessee's appeal for statistical purposes, directing the Assessing Officer to reexamine the addition of unexplained cash credit of Rs. 11.39 lakhs and interest income accrued on investments in accordance with the law. The Tribunal found that the AO should have verified the purchase consideration from the buyers to determine the actual sale price of the land and noted the assessee followed a cash system of accounting. The issues were restored to the AO for fresh adjudication. en-us Wed, 20 Jun 2018 00:00:00 +0530 Fri, 22 Jun 2018 09:01:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362293 The Tribunal allowed the assessee's appeal for statistical purposes, directing the Assessing Officer to reexamine the addition of unexplained cash credit of Rs. 11.39 lakhs and interest income accrued on investments in accordance with the law. The Tribunal found that the AO should have verified the purchase consideration from the buyers to determine the actual sale price of the land and noted the assessee followed a cash system of accounting. The issues were restored to the AO for fresh adjudication. Case-Laws Income Tax Wed, 20 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362293