https://www.taxtmi.com/caselaws?id=466161 Assessment issues concerned unexplained cash credits, repayment of rent advances, bank withdrawals, interest on borrowed funds, agricultural receipts, unexplained investments and capital gains. Tribunal accepted the assessees bank evidence and cashflow showing refunds and withdrawals, directing deletion of additions of Rs.18,50,000 and Rs.28,64,163 as explained sources; sustained a Rs.4,00,436 unexplained capital introduction; held interest on loan used to renovate the business premises allowable and directed allowance of Rs.7,48,842; accepted agricultural receipts as genuine and deleted additions; validated capital account entries and set aside excess capital additions; directed telescoping of unexplained investment and deletion accordingly; deleted double taxation of fee receipts and fixed sale consideration for long term capital gains at Rs.60 lakhs; remitted deduction claimed under reinvestment provisions for verification. en-us Fri, 28 Feb 2025 00:00:00 +0530 Tue, 27 Jan 2026 16:01:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466161 Assessment issues concerned unexplained cash credits, repayment of rent advances, bank withdrawals, interest on borrowed funds, agricultural receipts, unexplained investments and capital gains. Tribunal accepted the assessees bank evidence and cashflow showing refunds and withdrawals, directing deletion of additions of Rs.18,50,000 and Rs.28,64,163 as explained sources; sustained a Rs.4,00,436 unexplained capital introduction; held interest on loan used to renovate the business premises allowable and directed allowance of Rs.7,48,842; accepted agricultural receipts as genuine and deleted additions; validated capital account entries and set aside excess capital additions; directed telescoping of unexplained investment and deletion accordingly; deleted double taxation of fee receipts and fixed sale consideration for long term capital gains at Rs.60 lakhs; remitted deduction claimed under reinvestment provisions for verification. Case-Laws Income Tax Fri, 28 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466161