https://www.taxtmi.com/caselaws?id=444968 ITAT Surat upheld CIT(A)'s deletion of addition u/s 68 for unexplained loan. Assessee received loan from deceased lender through banking channels with proper documentation including confirmation, bank statements, and death certificate. Following Gujarat HC precedent in Patel Ramniklal Hirji case, loan transaction was deemed genuine as it was through account payee cheques with supporting documents. ITAT also upheld deletion of agricultural income addition, noting assessee's agricultural income was previously accepted by department and Rs. 26,28,436 from 30 acres with 900 chickoo and 400 mango trees was reasonable. Revenue's appeal dismissed. en-us Mon, 16 Oct 2023 00:00:00 +0530 Thu, 26 Oct 2023 14:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444968 ITAT Surat upheld CIT(A)'s deletion of addition u/s 68 for unexplained loan. Assessee received loan from deceased lender through banking channels with proper documentation including confirmation, bank statements, and death certificate. Following Gujarat HC precedent in Patel Ramniklal Hirji case, loan transaction was deemed genuine as it was through account payee cheques with supporting documents. ITAT also upheld deletion of agricultural income addition, noting assessee's agricultural income was previously accepted by department and Rs. 26,28,436 from 30 acres with 900 chickoo and 400 mango trees was reasonable. Revenue's appeal dismissed. Case-Laws Income Tax Mon, 16 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444968