https://www.taxtmi.com/caselaws?id=459418 ITAT Bangalore rejected assessee's appeal regarding unexplained expenditure addition. Assessee purchased land showing Rs. 50,000 per acre in sale deed but Rs. 5 lakhs in agreement, claiming higher value was for loan purposes. However, adjacent land sold by same vendor to another party at Rs. 5 lakhs per acre contradicted assessee's explanation. Addition confirmed as assessee failed to provide convincing justification for price discrepancy. Separately, ITAT allowed depreciation on solar plant as assessee generated and sold power, establishing actual use despite AO's denial. en-us Thu, 27 Jan 2022 00:00:00 +0530 Thu, 12 Dec 2024 18:59:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459418 ITAT Bangalore rejected assessee's appeal regarding unexplained expenditure addition. Assessee purchased land showing Rs. 50,000 per acre in sale deed but Rs. 5 lakhs in agreement, claiming higher value was for loan purposes. However, adjacent land sold by same vendor to another party at Rs. 5 lakhs per acre contradicted assessee's explanation. Addition confirmed as assessee failed to provide convincing justification for price discrepancy. Separately, ITAT allowed depreciation on solar plant as assessee generated and sold power, establishing actual use despite AO's denial. Case-Laws Income Tax Thu, 27 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459418