https://www.taxtmi.com/caselaws?id=757046 ITAT Ahmedabad remanded multiple tax issues back to AO for proper verification and adjudication. The case involved addition of cash deposits under section 68, long-term capital gains under section 50C regarding land sale, and addition under section 56(2)(vii)(b)(ii) for immovable property purchase. ITAT found that complete bank statements were not available before AO and CIT(A), and deed of sale required verification to determine if land was agricultural in nature. All issues were sent back to AO for fresh examination considering evidence filed during assessment and appellate proceedings. en-us Mon, 12 Aug 2024 00:00:00 +0530 Wed, 14 Aug 2024 08:33:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757046 ITAT Ahmedabad remanded multiple tax issues back to AO for proper verification and adjudication. The case involved addition of cash deposits under section 68, long-term capital gains under section 50C regarding land sale, and addition under section 56(2)(vii)(b)(ii) for immovable property purchase. ITAT found that complete bank statements were not available before AO and CIT(A), and deed of sale required verification to determine if land was agricultural in nature. All issues were sent back to AO for fresh examination considering evidence filed during assessment and appellate proceedings. Case-Laws Income Tax Mon, 12 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757046