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2015 (6) TMI 841 - ITAT PUNEAddition u/s 68 - Held that:- The assessee deposited cash totaling ₹ 2,55,000/- in her bank account, which she claims to be out of her savings and also partly out of agricultural produce. Our attention was drawn to the cash flow statement furnished by the assessee in which, even the expenditure relating to agricultural activities was debited. In the totality of the above said facts and circumstances, we delete the addition of ₹ 2,55,000/- being the amount raised by the assessee from her savings and partly out of agricultural proceeds. Accordingly, we direct the Assessing Officer to delete the addition of ₹ 2,55,000/- made under section 68 of the Act. - Decided in favour of assessee. Indexation of the cost of acquisition of the assets sold - Held that:- he contention of the assessee was that it had initially purchased the land along with a small built up area in financial year 1999-2000 and had constructed building in financial year 1995-96. We find that the necessary details in this regard are not available on record and hence, it needs to be verified. Accordingly, we direct the Assessing Officer to carry out the verification exercise and compute the long term capital gain by adopting the cost of acquisition relatable to the acquisition i.e. the cost of land with built up area in financial year 1999-2000 and the additional cost of construction in the financial year 1995-96. - Decided in favour of assessee for statistical purposes.
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