https://www.taxtmi.com/caselaws?id=288627 The Tribunal found that the Revenue's extrapolation of on-money receipts to all units sold was not justified. The seized document indicated on-money receipt for only one unit, and there was no evidence of a consistent modus operandi for receiving on-money across all sales. The Tribunal concluded that the addition of Rs. 7,13,46,450/- was not warranted and directed the deletion of this amount from the assessee's total income. The appeal of the assessee was allowed, and the order of the CIT(A) was set aside. The Tribunal emphasized that the factual position in this case did not justify the application of the legal precedents cited by the Revenue. en-us Wed, 30 Apr 2014 00:00:00 +0530 Sat, 20 Jun 2020 06:03:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288627 The Tribunal found that the Revenue's extrapolation of on-money receipts to all units sold was not justified. The seized document indicated on-money receipt for only one unit, and there was no evidence of a consistent modus operandi for receiving on-money across all sales. The Tribunal concluded that the addition of Rs. 7,13,46,450/- was not warranted and directed the deletion of this amount from the assessee's total income. The appeal of the assessee was allowed, and the order of the CIT(A) was set aside. The Tribunal emphasized that the factual position in this case did not justify the application of the legal precedents cited by the Revenue. Case-Laws Income Tax Wed, 30 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288627