https://www.taxtmi.com/caselaws?id=338407 The ITAT confirmed the CIT(A)'s decision to uphold the addition of Rs. 20,00,000 but delete the Rs. 41,95,100 addition for AY 2003-04, rejecting the revenue's appeal. For AY 2006-07, the ITAT agreed with the CIT(A) to reduce the estimated on-money receipts to Rs. 44,46,333, dismissing the revenue's appeal. Regarding the validity of the revision order u/s 263 for AY 2004-05, the ITAT set aside the CIT's decision to levy a penalty, allowing the assessee's appeal. en-us Mon, 30 Jan 2017 00:00:00 +0530 Fri, 03 Feb 2017 11:08:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338407 The ITAT confirmed the CIT(A)'s decision to uphold the addition of Rs. 20,00,000 but delete the Rs. 41,95,100 addition for AY 2003-04, rejecting the revenue's appeal. For AY 2006-07, the ITAT agreed with the CIT(A) to reduce the estimated on-money receipts to Rs. 44,46,333, dismissing the revenue's appeal. Regarding the validity of the revision order u/s 263 for AY 2004-05, the ITAT set aside the CIT's decision to levy a penalty, allowing the assessee's appeal. Case-Laws Income Tax Mon, 30 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338407