https://www.taxtmi.com/caselaws?id=312743 ITAT Kolkata allowed the assessee's appeal against additions made by AO for unexplained cash credit and suppressed sales. The tribunal held that AO's calculations were based on cherry-picked figures and surmises without rejecting book results or finding discrepancies. For Section 43CA addition on property sales, flats with pre-April 2013 agreements were exempted, while remaining transactions were remanded for fresh examination. The tribunal found AO's application of gross profit rates on alleged suppressed sales was unfounded as books weren't rejected and no actual suppression was established. en-us Wed, 29 Nov 2023 00:00:00 +0530 Tue, 05 Mar 2024 08:58:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312743 ITAT Kolkata allowed the assessee's appeal against additions made by AO for unexplained cash credit and suppressed sales. The tribunal held that AO's calculations were based on cherry-picked figures and surmises without rejecting book results or finding discrepancies. For Section 43CA addition on property sales, flats with pre-April 2013 agreements were exempted, while remaining transactions were remanded for fresh examination. The tribunal found AO's application of gross profit rates on alleged suppressed sales was unfounded as books weren't rejected and no actual suppression was established. Case-Laws Income Tax Wed, 29 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312743