https://www.taxtmi.com/caselaws?id=446811 The Tribunal allowed the appeal of the assessee, overturning the decisions of the lower authorities. It directed the assessing officer to remove the additional income addition related to on-money received during the property sale. The Tribunal found that the amount had already been declared, taxed, and credited to the profit and loss account by the assessee during the survey. The delayed retraction of the assessee's statement and lack of cross-examination were noted, but the Tribunal emphasized that the additional income addition was impermissible since the income had already been accounted for. en-us Wed, 27 Sep 2023 00:00:00 +0530 Tue, 12 Dec 2023 09:02:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446811 The Tribunal allowed the appeal of the assessee, overturning the decisions of the lower authorities. It directed the assessing officer to remove the additional income addition related to on-money received during the property sale. The Tribunal found that the amount had already been declared, taxed, and credited to the profit and loss account by the assessee during the survey. The delayed retraction of the assessee's statement and lack of cross-examination were noted, but the Tribunal emphasized that the additional income addition was impermissible since the income had already been accounted for. Case-Laws Income Tax Wed, 27 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446811