https://www.taxtmi.com/caselaws?id=770057 ITAT Cochin remanded two issues to AO for fresh adjudication. First, regarding addition under section 69B for unexplained cash deposits of INR 25 lakh allegedly from property sale - ITAT found lower authorities failed to provide adequate opportunity to assessee to furnish required documents and did not examine purchasers despite questioning their identity. Second, concerning rejection of exemption under section 10(1) for profit from land sale - ITAT directed AO to follow coordinate bench precedent requiring proper verification of land measurement through KSREC opinion if disputing assessee's claim. Appeal allowed for statistical purposes with both matters restored for de novo consideration. en-us Fri, 28 Mar 2025 00:00:00 +0530 Tue, 06 May 2025 09:58:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770057 ITAT Cochin remanded two issues to AO for fresh adjudication. First, regarding addition under section 69B for unexplained cash deposits of INR 25 lakh allegedly from property sale - ITAT found lower authorities failed to provide adequate opportunity to assessee to furnish required documents and did not examine purchasers despite questioning their identity. Second, concerning rejection of exemption under section 10(1) for profit from land sale - ITAT directed AO to follow coordinate bench precedent requiring proper verification of land measurement through KSREC opinion if disputing assessee's claim. Appeal allowed for statistical purposes with both matters restored for de novo consideration. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770057