https://www.taxtmi.com/caselaws?id=768028 The Tribunal upheld the deletion of the Rs. 9,58,566/- addition related to cash deposits during the demonetization period, as the appellate authority found insufficient justification for the addition. Regarding the Rs. 17,76,450/- addition under Section 56(2)(x) of the Income Tax Act, the Tribunal determined that the section was misapplied to the assessee, who was the seller of the property. Consequently, the Tribunal remanded the issue to the Assessing Officer for reevaluation, allowing the assessee to present additional evidence. en-us Thu, 27 Feb 2025 00:00:00 +0530 Sat, 29 Mar 2025 08:15:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768028 The Tribunal upheld the deletion of the Rs. 9,58,566/- addition related to cash deposits during the demonetization period, as the appellate authority found insufficient justification for the addition. Regarding the Rs. 17,76,450/- addition under Section 56(2)(x) of the Income Tax Act, the Tribunal determined that the section was misapplied to the assessee, who was the seller of the property. Consequently, the Tribunal remanded the issue to the Assessing Officer for reevaluation, allowing the assessee to present additional evidence. Case-Laws Income Tax Thu, 27 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768028