https://www.taxtmi.com/caselaws?id=753068 The ITAT Jodhpur allowed the assessee's appeal regarding three disputed additions. The tribunal held that cash received from termination of a property purchase agreement was justified as the source was well-established when the assessee failed to pay Rs. 20 lacs, leading to agreement termination and refund. An investment addition of Rs. 1,57,51,042 was deleted as the registered deed provided primary evidence of another party's investment share. Business expenses of Rs. 19,75,000 were allowed as legitimate deductions being fully related to business operations. All three grounds of appeal were allowed. en-us Fri, 05 Jan 2024 00:00:00 +0530 Thu, 23 May 2024 20:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753068 The ITAT Jodhpur allowed the assessee's appeal regarding three disputed additions. The tribunal held that cash received from termination of a property purchase agreement was justified as the source was well-established when the assessee failed to pay Rs. 20 lacs, leading to agreement termination and refund. An investment addition of Rs. 1,57,51,042 was deleted as the registered deed provided primary evidence of another party's investment share. Business expenses of Rs. 19,75,000 were allowed as legitimate deductions being fully related to business operations. All three grounds of appeal were allowed. Case-Laws Income Tax Fri, 05 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753068