https://www.taxtmi.com/caselaws?id=312324 The Tribunal allowed the appeal filed by the assessee for AY 2004-05, overturning the additions made by the A.O. The Tribunal accepted the declared agriculture income, disallowing the A.O.'s estimated addition. It also disallowed the addition related to house construction, as the referral for valuation was deemed impermissible without rejecting the books of accounts. Furthermore, the Tribunal found the cash gifts to be genuine after examining confirmations from donors, disallowing the addition under Section 68. The declared income and gifts were confirmed as valid. en-us Fri, 25 Mar 2011 00:00:00 +0530 Mon, 12 Feb 2024 10:20:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312324 The Tribunal allowed the appeal filed by the assessee for AY 2004-05, overturning the additions made by the A.O. The Tribunal accepted the declared agriculture income, disallowing the A.O.'s estimated addition. It also disallowed the addition related to house construction, as the referral for valuation was deemed impermissible without rejecting the books of accounts. Furthermore, the Tribunal found the cash gifts to be genuine after examining confirmations from donors, disallowing the addition under Section 68. The declared income and gifts were confirmed as valid. Case-Laws Income Tax Fri, 25 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312324