https://www.taxtmi.com/caselaws?id=376872 The Tribunal upheld the CIT(A)'s decision to delete additions amounting to Rs. 1,90,59,000/- and Rs. 8,88,089/- based on the value stated in the sale document and lack of evidence of notional rental income. The CIT(A) concluded that the Revenue failed to prove understatement of consideration and the properties were held as stock-in-trade. The Tribunal affirmed the CIT(A)'s findings, dismissing the Revenue's appeal and upholding the order pronounced on 13/03/2019. en-us Wed, 13 Mar 2019 00:00:00 +0530 Sat, 16 Mar 2019 10:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376872 The Tribunal upheld the CIT(A)'s decision to delete additions amounting to Rs. 1,90,59,000/- and Rs. 8,88,089/- based on the value stated in the sale document and lack of evidence of notional rental income. The CIT(A) concluded that the Revenue failed to prove understatement of consideration and the properties were held as stock-in-trade. The Tribunal affirmed the CIT(A)'s findings, dismissing the Revenue's appeal and upholding the order pronounced on 13/03/2019. Case-Laws Income Tax Wed, 13 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376872