Court Rules Mere Admission of On-Money Payment Insufficient for Undisclosed Income Without Incriminating Evidence Found in Search.

Court Rules Mere Admission of On-Money Payment Insufficient for Undisclosed Income Without Incriminating Evidence Found in Search. https://www.taxtmi.com/highlights?id=65795 Undisclosed income - receipt of on-money by cash - Simply because the purchaser has admitted on-money payment is not sufficient. Particularly, in this case, a search was conducted and no incriminating material has been found in respect of on-money receipt. - AT en-us Sat, 24 Sep 2022 13:25:11 +0530 Sat, 24 Sep 2022 13:25:11 +0530 TaxTMI RSS Generator Court Rules Mere Admission of On-Money Payment Insufficient for Undisclosed Income Without Incriminating Evidence Found in Search. https://www.taxtmi.com/highlights?id=65795 Undisclosed income - receipt of on-money by cash - Simply because the purchaser has admitted on-money payment is not sufficient. Particularly, in this case, a search was conducted and no incriminating material has been found in respect of on-money receipt. - AT Highlights Income Tax Sat, 24 Sep 2022 13:25:11 +0530 https://www.taxtmi.com/highlights?id=65795