https://www.taxtmi.com/caselaws?id=400712 The tribunal partially allowed the appeal, granting relief on various grounds. The tribunal upheld deletions related to unexplained capital sourced from liquidated FDRs, sundry creditors based on reasonable profit estimation, and agricultural income share. Additionally, deletions were made for unexplained marriage gifts and expenses, adhoc disallowance of expenses, and a difference in the value of construction, citing completion over two years and no additions in prior assessments. The issue of disallowed depreciation was remanded for further verification by the AO. The delay in pronouncing the order was attributed to the COVID-19 lockdown, following the JSW Ltd case precedent. en-us Thu, 23 Jul 2020 00:00:00 +0530 Mon, 16 Nov 2020 16:59:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400712 The tribunal partially allowed the appeal, granting relief on various grounds. The tribunal upheld deletions related to unexplained capital sourced from liquidated FDRs, sundry creditors based on reasonable profit estimation, and agricultural income share. Additionally, deletions were made for unexplained marriage gifts and expenses, adhoc disallowance of expenses, and a difference in the value of construction, citing completion over two years and no additions in prior assessments. The issue of disallowed depreciation was remanded for further verification by the AO. The delay in pronouncing the order was attributed to the COVID-19 lockdown, following the JSW Ltd case precedent. Case-Laws Income Tax Thu, 23 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400712