https://www.taxtmi.com/caselaws?id=333675 An ex parte best judgment addition for alleged undisclosed cash receipt in a property transaction could not be conclusively upheld where the assessee disputed receipt of sale consideration, claimed the amount was only earnest money, and the department had not properly verified the alleged purchasers' ability to pay or actual payment. The existing material was found insufficient for a final taxability finding, so the matter was restored to the Assessing Officer for fresh examination after giving the assessee adequate opportunity. The issue was therefore remanded for proper enquiry and adjudication in accordance with law. en-us Wed, 31 Aug 2016 00:00:00 +0530 Thu, 20 Oct 2016 21:43:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333675 An ex parte best judgment addition for alleged undisclosed cash receipt in a property transaction could not be conclusively upheld where the assessee disputed receipt of sale consideration, claimed the amount was only earnest money, and the department had not properly verified the alleged purchasers' ability to pay or actual payment. The existing material was found insufficient for a final taxability finding, so the matter was restored to the Assessing Officer for fresh examination after giving the assessee adequate opportunity. The issue was therefore remanded for proper enquiry and adjudication in accordance with law. Case-Laws Income Tax Wed, 31 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333675