https://www.taxtmi.com/caselaws?id=768118 The ITAT AGRA upheld most CIT(A) deletions and dismissed revenue appeals. The tribunal deleted additions for unaccounted payments based on loose papers lacking corroborative evidence, cash seizure where disclosure exceeded actual cash found, and fresh credits meeting Section 68 requirements. Profit from agricultural land sale was confirmed as not taxable capital gains since lands were rural agricultural property. Jewellery addition was deleted applying CBDT guidelines allowing 500g per married lady, 250g per unmarried lady, and 100g per male member. Business expenses including car depreciation and interest were allowed as related to business activities. However, house property interest expenses were disallowed as purpose could not be established and only specified expenditures are allowable under house property income. en-us Fri, 28 Mar 2025 00:00:00 +0530 Tue, 01 Apr 2025 08:31:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768118 The ITAT AGRA upheld most CIT(A) deletions and dismissed revenue appeals. The tribunal deleted additions for unaccounted payments based on loose papers lacking corroborative evidence, cash seizure where disclosure exceeded actual cash found, and fresh credits meeting Section 68 requirements. Profit from agricultural land sale was confirmed as not taxable capital gains since lands were rural agricultural property. Jewellery addition was deleted applying CBDT guidelines allowing 500g per married lady, 250g per unmarried lady, and 100g per male member. Business expenses including car depreciation and interest were allowed as related to business activities. However, house property interest expenses were disallowed as purpose could not be established and only specified expenditures are allowable under house property income. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768118