https://www.taxtmi.com/caselaws?id=774178 The ITAT Delhi ruled in favor of the assessee on two issues. First, regarding unexplained investment under section 69 read with section 115BBE, the tribunal held that since advances were recorded in the books of accounts, section 69 provisions were not applicable and directed deletion of the addition. Second, concerning profit on sale of agricultural land treated as long-term capital gain under section 45, the tribunal found that evidence including registered sale deed showing "sale outside MC Area" with land type as "Chahi" and tehsildar certificate established the land was not a capital asset under section 2(14), directing deletion of the addition. en-us Wed, 25 Jun 2025 00:00:00 +0530 Fri, 04 Jul 2025 08:38:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774178 The ITAT Delhi ruled in favor of the assessee on two issues. First, regarding unexplained investment under section 69 read with section 115BBE, the tribunal held that since advances were recorded in the books of accounts, section 69 provisions were not applicable and directed deletion of the addition. Second, concerning profit on sale of agricultural land treated as long-term capital gain under section 45, the tribunal found that evidence including registered sale deed showing "sale outside MC Area" with land type as "Chahi" and tehsildar certificate established the land was not a capital asset under section 2(14), directing deletion of the addition. Case-Laws Income Tax Wed, 25 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774178