https://www.taxtmi.com/caselaws?id=777059 ITAT upheld CIT(A)'s orders and dismissed the revenue's grounds. The addition for cash deposited during demonetisation was deleted because the factual finding that the assessee had sufficient cash on hand was not challenged. The tribunal affirmed CIT(A)'s classification of the sale proceeds: large tracts held as stock-in-trade and smaller plots as capital assets, rejecting AO's contrary contention. The partial deduction under s.24(b) for rental receipts was also sustained, noting the misdescription in the return and consistent findings by CIT(A); revenue failed to rebut those findings. en-us Wed, 08 Jan 2025 00:00:00 +0530 Sat, 23 Aug 2025 08:31:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777059 ITAT upheld CIT(A)'s orders and dismissed the revenue's grounds. The addition for cash deposited during demonetisation was deleted because the factual finding that the assessee had sufficient cash on hand was not challenged. The tribunal affirmed CIT(A)'s classification of the sale proceeds: large tracts held as stock-in-trade and smaller plots as capital assets, rejecting AO's contrary contention. The partial deduction under s.24(b) for rental receipts was also sustained, noting the misdescription in the return and consistent findings by CIT(A); revenue failed to rebut those findings. Case-Laws Income Tax Wed, 08 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777059