https://www.taxtmi.com/caselaws?id=445292 ITAT Surat upheld CIT(A)'s deletion of addition for undisclosed income from on-money received through inflated flat purchase prices. WhatsApp communications found during search related to only seven flats, not all 31 flats assessed by AO. Court noted significant time gap between alleged communications and booking dates, with AO failing to provide corroborative evidence. However, ITAT partially allowed revenue's cross-objection, sustaining 10% of CIT(A)'s estimated on-money figure to prevent revenue leakage while dismissing revenue's main appeal for lack of supporting evidence. en-us Tue, 05 Sep 2023 00:00:00 +0530 Sat, 04 Nov 2023 09:16:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445292 ITAT Surat upheld CIT(A)'s deletion of addition for undisclosed income from on-money received through inflated flat purchase prices. WhatsApp communications found during search related to only seven flats, not all 31 flats assessed by AO. Court noted significant time gap between alleged communications and booking dates, with AO failing to provide corroborative evidence. However, ITAT partially allowed revenue's cross-objection, sustaining 10% of CIT(A)'s estimated on-money figure to prevent revenue leakage while dismissing revenue's main appeal for lack of supporting evidence. Case-Laws Income Tax Tue, 05 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445292