https://www.taxtmi.com/caselaws?id=303390 The Tribunal upheld the validity of reassessment proceedings and additions for unexplained investments in properties. It deleted additions of 8% and 1.5% of undisclosed contract receipts, determining the cash payments were for material procurement, not contract work. Revenue appeals were partly allowed for AY 2007-08 and dismissed for other AYs; cross-objections and assessee appeals were partly allowed. en-us Thu, 14 Aug 2014 00:00:00 +0530 Wed, 20 Jul 2022 09:22:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303390 The Tribunal upheld the validity of reassessment proceedings and additions for unexplained investments in properties. It deleted additions of 8% and 1.5% of undisclosed contract receipts, determining the cash payments were for material procurement, not contract work. Revenue appeals were partly allowed for AY 2007-08 and dismissed for other AYs; cross-objections and assessee appeals were partly allowed. Case-Laws Income Tax Thu, 14 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303390