https://www.taxtmi.com/caselaws?id=71622 The Tribunal upheld the addition of Rs. 4 lakhs for 'on money' in the purchase of a flat and plot, but allowed the retraction for Rs. 50,000 paid by cheque. It directed the Assessing Officer to verify and allow actual expenditures not recorded in the fair cash book for the assessment years 1994-95 to 1996-97. Additionally, the Tribunal instructed the AO to estimate and assess only the profits from suppressed sales for the assessment years 1986-87 to 1993-94, rather than treating the entire sales amount as undisclosed income. en-us Fri, 20 Feb 1998 00:00:00 +0530 Tue, 26 Apr 2011 11:24:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71622 The Tribunal upheld the addition of Rs. 4 lakhs for 'on money' in the purchase of a flat and plot, but allowed the retraction for Rs. 50,000 paid by cheque. It directed the Assessing Officer to verify and allow actual expenditures not recorded in the fair cash book for the assessment years 1994-95 to 1996-97. Additionally, the Tribunal instructed the AO to estimate and assess only the profits from suppressed sales for the assessment years 1986-87 to 1993-94, rather than treating the entire sales amount as undisclosed income. Case-Laws Income Tax Fri, 20 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71622