ITAT partly allows revenue appeal on property valuation deletion but reverses on interest receivable from advances

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....ITAT partly allowed revenue's appeal in tax assessment matter. Regarding addition under section 56(2)(x) for property valuation, ITAT upheld CIT(A)'s deletion following precedent where detailed valuation considered industrial NA land characteristics and stamp duty authority rules. For cash advance on Hundi, ITAT sustained CIT(A)'s deletion finding no evidence that Rs. 26 lakh exceeded documented Rs. 25 lakh loan paid through banking channels. However, ITAT reversed CIT(A) on interest receivable from advances, holding accrued interest must be added to total income since assessee admitted giving loan. For agricultural income classification, ITAT modified CIT(A)'s complete deletion, allowing Rs. 75,000 as reasonable agricultural income from 4.6 hectares but treating balance Rs. 1,01,015 as income from other sources due to insufficient cultivation proof.....