https://www.taxtmi.com/caselaws?id=412490 The appeal was allowed, and the addition sustained by the Ld. CIT(A) under section 144 r.w.s 147 of the Income Tax Act for the assessment year 2010-11 was directed to be deleted by the Tribunal. The Tribunal found that the estimation of income per acre was not based on concrete evidence and that the addition based on assumptions and presumptions was not legally sustainable. The Tribunal noted that the cash received was a gift from the father of the assessee, and the Ld. CIT(A) had not adequately justified the decision to sustain the addition of 50% of the cash deposits. en-us Mon, 07 Jun 2021 00:00:00 +0530 Mon, 20 Sep 2021 09:19:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412490 The appeal was allowed, and the addition sustained by the Ld. CIT(A) under section 144 r.w.s 147 of the Income Tax Act for the assessment year 2010-11 was directed to be deleted by the Tribunal. The Tribunal found that the estimation of income per acre was not based on concrete evidence and that the addition based on assumptions and presumptions was not legally sustainable. The Tribunal noted that the cash received was a gift from the father of the assessee, and the Ld. CIT(A) had not adequately justified the decision to sustain the addition of 50% of the cash deposits. Case-Laws Income Tax Mon, 07 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412490