https://www.taxtmi.com/caselaws?id=407077 The ITAT partly allowed the appeal of the assessee in a tax matter, directing the AO to reassess certain additions and delete others based on the evidence and legal precedents provided. The ITAT revised the estimation of profit from civil contracts, added long-term capital gains subject to verification, upheld the addition of unexplained cash credits, directed deletion of some unexplained investment amounts, confirmed addition of interest income from lent amounts, dismissed unexplained cash addition, and directed deletion of unexplained jewelry investment based on CBDT instructions. The ITAT rejected the argument that the CIT(A) introduced new income sources, clarifying that the CIT(A) addressed issues from the AO's order. en-us Mon, 26 Apr 2021 00:00:00 +0530 Fri, 30 Apr 2021 08:24:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407077 The ITAT partly allowed the appeal of the assessee in a tax matter, directing the AO to reassess certain additions and delete others based on the evidence and legal precedents provided. The ITAT revised the estimation of profit from civil contracts, added long-term capital gains subject to verification, upheld the addition of unexplained cash credits, directed deletion of some unexplained investment amounts, confirmed addition of interest income from lent amounts, dismissed unexplained cash addition, and directed deletion of unexplained jewelry investment based on CBDT instructions. The ITAT rejected the argument that the CIT(A) introduced new income sources, clarifying that the CIT(A) addressed issues from the AO's order. Case-Laws Income Tax Mon, 26 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407077