https://www.taxtmi.com/caselaws?id=765052 ITAT Surat reduced addition under sections 69/69A from Rs. 72,81,674 to Rs. 2 lakhs after allowing deductions for home loan disbursement (Rs. 44,01,180), section 80TTA deduction (Rs. 2,042), correcting calculation errors (Rs. 19,870), and crediting cash-in-hand from previous year return (Rs. 9,92,080). The remaining unexplained credit was estimated at 10% for business income taxation. The assessee's appeal was partly allowed, significantly reducing the tax liability under special rate provisions of section 11BBE. en-us Tue, 21 Jan 2025 00:00:00 +0530 Fri, 24 Jan 2025 08:44:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765052 ITAT Surat reduced addition under sections 69/69A from Rs. 72,81,674 to Rs. 2 lakhs after allowing deductions for home loan disbursement (Rs. 44,01,180), section 80TTA deduction (Rs. 2,042), correcting calculation errors (Rs. 19,870), and crediting cash-in-hand from previous year return (Rs. 9,92,080). The remaining unexplained credit was estimated at 10% for business income taxation. The assessee's appeal was partly allowed, significantly reducing the tax liability under special rate provisions of section 11BBE. Case-Laws Income Tax Tue, 21 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765052