https://www.taxtmi.com/caselaws?id=462855 The ITAT Chandigarh partially allowed appeals by the assessee against CIT(Appeals) orders for assessment years 2002-03 to 2006-07. The tribunal upheld additions under Section 68 regarding unsecured loans from school teachers earning Rs. 1700-2700 monthly who allegedly advanced Rs. 19,500 each, finding the assessee failed to establish creditors' creditworthiness despite proving identity. However, the tribunal remanded the issue of Rs. 1,10,000 loan from assessee's mother to the AO for fresh consideration. For valuation disputes regarding school building construction across multiple years, the tribunal deleted additions totaling Rs. 4,18,457, accepting that differences between DVO estimates and declared values were marginal when considering proper PWD rates versus CPWD rates and allowing standard 10% tolerance. The tribunal upheld a Rs. 92,000 addition for unexplained capital introduction, rejecting the assessee's claim of home loan source without adequate evidence. For salary expenses dispute in AY 2005-06, the tribunal partially allowed the ground, reducing the Rs. 83,880 addition to Rs. 30,000 as estimated disallowance after considering certificates produced by the assessee for payments to non-regular staff. en-us Thu, 07 Nov 2013 00:00:00 +0530 Mon, 21 Jul 2025 17:22:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462855 The ITAT Chandigarh partially allowed appeals by the assessee against CIT(Appeals) orders for assessment years 2002-03 to 2006-07. The tribunal upheld additions under Section 68 regarding unsecured loans from school teachers earning Rs. 1700-2700 monthly who allegedly advanced Rs. 19,500 each, finding the assessee failed to establish creditors' creditworthiness despite proving identity. However, the tribunal remanded the issue of Rs. 1,10,000 loan from assessee's mother to the AO for fresh consideration. For valuation disputes regarding school building construction across multiple years, the tribunal deleted additions totaling Rs. 4,18,457, accepting that differences between DVO estimates and declared values were marginal when considering proper PWD rates versus CPWD rates and allowing standard 10% tolerance. The tribunal upheld a Rs. 92,000 addition for unexplained capital introduction, rejecting the assessee's claim of home loan source without adequate evidence. For salary expenses dispute in AY 2005-06, the tribunal partially allowed the ground, reducing the Rs. 83,880 addition to Rs. 30,000 as estimated disallowance after considering certificates produced by the assessee for payments to non-regular staff. Case-Laws Income Tax Thu, 07 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462855