https://www.taxtmi.com/caselaws?id=751267 The ITAT dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete several additions made by the AO. The Tribunal confirmed that the purchase price declared by the assessee was the actual cost incurred, not the market price. It also agreed with the deletion of notional rental income and unexplained cash credit additions, finding no basis for such adjustments given the nature of the assessee's income. The Tribunal found the assessee's computations justified and supported the CIT(A)'s rulings, leading to the dismissal of the Revenue's appeal. en-us Wed, 03 Apr 2024 00:00:00 +0530 Fri, 12 Apr 2024 08:51:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751267 The ITAT dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete several additions made by the AO. The Tribunal confirmed that the purchase price declared by the assessee was the actual cost incurred, not the market price. It also agreed with the deletion of notional rental income and unexplained cash credit additions, finding no basis for such adjustments given the nature of the assessee's income. The Tribunal found the assessee's computations justified and supported the CIT(A)'s rulings, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Wed, 03 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751267