https://www.taxtmi.com/caselaws?id=433539 The appellate tribunal ruled in favor of the assessee, directing the assessing officer to delete the additions made towards agricultural income and gift received from HUF. The tribunal found the explanations provided by the assessee regarding the sources of income to be genuine and supported by evidence, leading to the dismissal of the additions under section 68 of the Income Tax Act. The carry forward of depreciation and business loss was deemed consequential based on the favorable outcomes of the first two issues. en-us Mon, 30 Jan 2023 00:00:00 +0530 Wed, 01 Feb 2023 09:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433539 The appellate tribunal ruled in favor of the assessee, directing the assessing officer to delete the additions made towards agricultural income and gift received from HUF. The tribunal found the explanations provided by the assessee regarding the sources of income to be genuine and supported by evidence, leading to the dismissal of the additions under section 68 of the Income Tax Act. The carry forward of depreciation and business loss was deemed consequential based on the favorable outcomes of the first two issues. Case-Laws Income Tax Mon, 30 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433539