https://www.taxtmi.com/caselaws?id=773428 ITAT PUNE upheld CIT(A)'s deletion of addition under section 56(2)(x) for property valuation, following precedent and accepting assessee's valuation based on Stamp Duty Authority Rules with 15% discount. For cash advances on Hundi, ITAT confirmed deletion of principal amount addition but restored AO's addition of interest income, finding assessee liable for accrued interest on Rs. 25 lakh loan. Regarding agricultural income, ITAT partially modified CIT(A)'s order, allowing Rs. 75,000 as reasonable agricultural income but treating balance Rs. 1,01,015 as income from other sources due to insufficient cultivation proof. Revenue's appeal partly allowed. en-us Mon, 16 Jun 2025 00:00:00 +0530 Mon, 23 Jun 2025 08:42:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773428 ITAT PUNE upheld CIT(A)'s deletion of addition under section 56(2)(x) for property valuation, following precedent and accepting assessee's valuation based on Stamp Duty Authority Rules with 15% discount. For cash advances on Hundi, ITAT confirmed deletion of principal amount addition but restored AO's addition of interest income, finding assessee liable for accrued interest on Rs. 25 lakh loan. Regarding agricultural income, ITAT partially modified CIT(A)'s order, allowing Rs. 75,000 as reasonable agricultural income but treating balance Rs. 1,01,015 as income from other sources due to insufficient cultivation proof. Revenue's appeal partly allowed. Case-Laws Income Tax Mon, 16 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773428