https://www.taxtmi.com/caselaws?id=450426 ITAT Kolkata allowed the assessee's appeal on all grounds. The tribunal deleted additions made under Section 43CA for property transactions originally agreed in FY 2011-12, rejected profit estimations in real estate and liquor businesses without book rejection under Section 145(3), and removed unexplained cash deposit additions during demonetization as sufficient cash balance existed. The tribunal also deleted income estimations for clearing and forwarding agent business, noting authorities failed to distinguish between VAT returns and commission income, and removed Section 68 additions as the assessee successfully explained transaction nature and source. en-us Thu, 29 Feb 2024 00:00:00 +0530 Tue, 05 Mar 2024 08:57:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450426 ITAT Kolkata allowed the assessee's appeal on all grounds. The tribunal deleted additions made under Section 43CA for property transactions originally agreed in FY 2011-12, rejected profit estimations in real estate and liquor businesses without book rejection under Section 145(3), and removed unexplained cash deposit additions during demonetization as sufficient cash balance existed. The tribunal also deleted income estimations for clearing and forwarding agent business, noting authorities failed to distinguish between VAT returns and commission income, and removed Section 68 additions as the assessee successfully explained transaction nature and source. Case-Laws Income Tax Thu, 29 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450426