https://www.taxtmi.com/caselaws?id=423126 The ITAT upheld the validity of assessment orders and the treatment of land sale as business income. The additions for unexplained deposits were confirmed. However, penalties under section 271(1)(c) were deleted as the rejection of claims did not constitute concealment or inaccurate particulars. Separate judgments were delivered for different assessment years, dismissing appeals against quantum additions but allowing appeals against penalties, resulting in penalty deletion for both years. en-us Fri, 27 May 2022 00:00:00 +0530 Mon, 30 May 2022 08:46:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423126 The ITAT upheld the validity of assessment orders and the treatment of land sale as business income. The additions for unexplained deposits were confirmed. However, penalties under section 271(1)(c) were deleted as the rejection of claims did not constitute concealment or inaccurate particulars. Separate judgments were delivered for different assessment years, dismissing appeals against quantum additions but allowing appeals against penalties, resulting in penalty deletion for both years. Case-Laws Income Tax Fri, 27 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423126