https://www.taxtmi.com/caselaws?id=71957 The case involved disputes over the calculation and taxation of 'On Money' receipts. The Assessing Officer's formula for determining 'On Money' was challenged, with the CIT(A) emphasizing the use of actual seized documents for accuracy. Ultimately, the CIT(A) accepted the actual 'On Money' receipts as per seized documents, leading to a revised taxable income determination. After conflicting opinions within the tribunal, the Third Member ordered a remand to the CIT(A) for a fresh decision based on verifying actual 'On Money' received and related expenses. The revenue's appeal was treated as allowed for statistical purposes, with the matter remanded for reconsideration. en-us Thu, 16 Oct 2008 00:00:00 +0530 Sat, 19 Dec 2015 13:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71957 The case involved disputes over the calculation and taxation of 'On Money' receipts. The Assessing Officer's formula for determining 'On Money' was challenged, with the CIT(A) emphasizing the use of actual seized documents for accuracy. Ultimately, the CIT(A) accepted the actual 'On Money' receipts as per seized documents, leading to a revised taxable income determination. After conflicting opinions within the tribunal, the Third Member ordered a remand to the CIT(A) for a fresh decision based on verifying actual 'On Money' received and related expenses. The revenue's appeal was treated as allowed for statistical purposes, with the matter remanded for reconsideration. Case-Laws Income Tax Thu, 16 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71957