https://www.taxtmi.com/caselaws?id=400609 The appeal was partly allowed with adjustments made to the additions under Sections 14A, 69, and 68 of the Income Tax Act. The incorrect computation of exempt income under Section 14A led to a reduction in the disallowance amount. The unexplained investment in land under Section 69 was partly upheld due to failure to explain the source of a significant portion of the investment. However, the addition under Section 68 for unsecured loans was partially restricted, with the tribunal noting deficiencies in the AO's verification and the CIT(A)'s justification. en-us Wed, 07 Oct 2020 00:00:00 +0530 Wed, 11 Nov 2020 11:58:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400609 The appeal was partly allowed with adjustments made to the additions under Sections 14A, 69, and 68 of the Income Tax Act. The incorrect computation of exempt income under Section 14A led to a reduction in the disallowance amount. The unexplained investment in land under Section 69 was partly upheld due to failure to explain the source of a significant portion of the investment. However, the addition under Section 68 for unsecured loans was partially restricted, with the tribunal noting deficiencies in the AO's verification and the CIT(A)'s justification. Case-Laws Income Tax Wed, 07 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400609