https://www.taxtmi.com/caselaws?id=286721 The Tribunal allowed the appeal filed by the assessee and partly allowed the appeal filed by the Revenue. It upheld the addition of Rs. 55 lakhs towards unexplained cash credits under section 68, finding the explanations lacking documentary evidence. Regarding the adoption of guidance value for the sale of property under section 50C, the Tribunal directed the AO to compute profits based on the actual sale consideration, disagreeing with the higher value adopted by the AO. en-us Fri, 05 Mar 2010 00:00:00 +0530 Thu, 12 Mar 2020 18:49:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286721 The Tribunal allowed the appeal filed by the assessee and partly allowed the appeal filed by the Revenue. It upheld the addition of Rs. 55 lakhs towards unexplained cash credits under section 68, finding the explanations lacking documentary evidence. Regarding the adoption of guidance value for the sale of property under section 50C, the Tribunal directed the AO to compute profits based on the actual sale consideration, disagreeing with the higher value adopted by the AO. Case-Laws Income Tax Fri, 05 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286721