https://www.taxtmi.com/caselaws?id=462729 ITAT Delhi upheld CIT(A)'s deletion of rental income addition where assessee sub-leased property to HUF at Rs.3000 monthly rent. AO applied market rate without basis, but since property was hired and sub-leased, applying market rate to both transactions resulted in no net addition. ITAT also upheld deletion of unexplained jewellery sale addition of 416.06 gms at Rs.1170 per gram. Assessee provided documentary evidence including death certificate and will proving inheritance. AO failed to find defects in evidence supporting that sold jewellery was from inherited personal assets not shown in business balance sheet. en-us Wed, 08 May 2019 00:00:00 +0530 Fri, 11 Jul 2025 20:19:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462729 ITAT Delhi upheld CIT(A)'s deletion of rental income addition where assessee sub-leased property to HUF at Rs.3000 monthly rent. AO applied market rate without basis, but since property was hired and sub-leased, applying market rate to both transactions resulted in no net addition. ITAT also upheld deletion of unexplained jewellery sale addition of 416.06 gms at Rs.1170 per gram. Assessee provided documentary evidence including death certificate and will proving inheritance. AO failed to find defects in evidence supporting that sold jewellery was from inherited personal assets not shown in business balance sheet. Case-Laws Income Tax Wed, 08 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462729