https://www.taxtmi.com/caselaws?id=260055 The Tribunal upheld the CIT(A)'s decision to reduce undisclosed income based on partner's admission. The Tribunal directed AO to verify income declaration timing. The Tribunal confirmed income taxability at sale-deed execution for profits from construction and sale of flats, citing relevant precedents. The Tribunal did not extensively address time-barred assessment orders. Assessees' appeals allowed for verification of income timing, while Revenue's appeal was dismissed, affirming undisclosed income reduction. The Tribunal stressed adherence to legal precedents and proper income verification. en-us Fri, 08 May 2015 00:00:00 +0530 Fri, 29 May 2015 11:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260055 The Tribunal upheld the CIT(A)'s decision to reduce undisclosed income based on partner's admission. The Tribunal directed AO to verify income declaration timing. The Tribunal confirmed income taxability at sale-deed execution for profits from construction and sale of flats, citing relevant precedents. The Tribunal did not extensively address time-barred assessment orders. Assessees' appeals allowed for verification of income timing, while Revenue's appeal was dismissed, affirming undisclosed income reduction. The Tribunal stressed adherence to legal precedents and proper income verification. Case-Laws Income Tax Fri, 08 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260055