https://www.taxtmi.com/caselaws?id=200551 The Tribunal dismissed the appeal under Section 260A of the Income Tax Act for the assessment year 2008-09, ruling in favor of taxing unaccounted receipts in the firm's income. The decision was based on the lack of evidence provided by the appellant to prove that the receipts belonged to individual partners. The application of the Partnership Act, 1932, guided the determination of personal profits earned by partners, leading to the conclusion that the unaccounted income should be taxed at the firm level. en-us Thu, 27 Apr 2017 00:00:00 +0530 Tue, 03 Apr 2018 21:21:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200551 The Tribunal dismissed the appeal under Section 260A of the Income Tax Act for the assessment year 2008-09, ruling in favor of taxing unaccounted receipts in the firm's income. The decision was based on the lack of evidence provided by the appellant to prove that the receipts belonged to individual partners. The application of the Partnership Act, 1932, guided the determination of personal profits earned by partners, leading to the conclusion that the unaccounted income should be taxed at the firm level. Case-Laws Income Tax Thu, 27 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200551