https://www.taxtmi.com/caselaws?id=419213 The Tribunal ruled in favor of the Assessee in an appeal against the addition of suppressed receipts amounting to Rs. 3,59,855 due to alleged 'on-money' in the sale of two shops at different times. The Tribunal found the addition lacked substantial evidence and was based on conjectures and surmises. Considering factors such as market conditions, buyer's choice, location, and payment terms, the Tribunal concluded that the price difference between the two shops was justified. Therefore, the Tribunal directed the Assessing Officer to delete the addition, emphasizing the lack of concrete evidence to support the 'on-money' claim. en-us Thu, 03 Mar 2022 00:00:00 +0530 Fri, 04 Mar 2022 15:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419213 The Tribunal ruled in favor of the Assessee in an appeal against the addition of suppressed receipts amounting to Rs. 3,59,855 due to alleged 'on-money' in the sale of two shops at different times. The Tribunal found the addition lacked substantial evidence and was based on conjectures and surmises. Considering factors such as market conditions, buyer's choice, location, and payment terms, the Tribunal concluded that the price difference between the two shops was justified. Therefore, the Tribunal directed the Assessing Officer to delete the addition, emphasizing the lack of concrete evidence to support the 'on-money' claim. Case-Laws Income Tax Thu, 03 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419213