Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
On money receipts - additions based on the disclosure made before the Settlement Commission, however, the application was rejected by the commission - As a settled principle of law that where it is found that the assessee is charging on-money/premium in respect of booking of flats, the entire receipts on account of on-money/premium charged would not to be treated as the undisclosed income of the assessee but only net profit rate could be applied on unaccounted sales/receipt for the purpose of making addition. - Action of CIT(A) for addition of 30% of the gross amount of on-money receipt as unaccounted income sustained - AT
On money receipts - additions based on the disclosure made before the Settlement Commission, however, the application was rejected by the commission - As a settled principle of law that where it is found that the assessee is charging on-money/premium in respect of booking of flats, the entire receipts on account of on-money/premium charged would not to be treated as the undisclosed income of the assessee but only net profit rate could be applied on unaccounted sales/receipt for the purpose of making addition. - Action of CIT(A) for addition of 30% of the gross amount of on-money receipt as unaccounted income sustained - AT
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