https://www.taxtmi.com/caselaws?id=427295 The appeal was partly allowed. The Tribunal directed the Assessing Officer to accept the property values declared by the assessee and delete the addition under section 68 for unexplained loans and gifts. However, the addition for unexplained cash deposits in the bank was upheld. The claim for exemption under section 54F was dismissed as infructuous due to the Tribunal's decision resulting in a long-term capital loss. en-us Mon, 29 Aug 2022 00:00:00 +0530 Tue, 06 Sep 2022 07:09:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427295 The appeal was partly allowed. The Tribunal directed the Assessing Officer to accept the property values declared by the assessee and delete the addition under section 68 for unexplained loans and gifts. However, the addition for unexplained cash deposits in the bank was upheld. The claim for exemption under section 54F was dismissed as infructuous due to the Tribunal's decision resulting in a long-term capital loss. Case-Laws Income Tax Mon, 29 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427295