https://www.taxtmi.com/highlights?id=79323 Unexplained investment in land purchase - society's purchase in its name or trustees' names - CIT(A) considered money not paid by society from income but sourced from office bearers - AO held amount in sale deed is society's unexplained investment, not office bearers' undisclosed income. IBS noted society had no income for land purchase and no society reference in seized material. IBS accepted trustees' additional income utilized for society's land investment, trustees found with unaccounted money, not society. CIT(A) erred in observing no evidence of money flow from trustees when mobile data showed trustees' unaccounted money. Source investment can't be taxed again in society's hands after being taxed in trustees' hands. Non-submission of ..... en-us Thu, 11 Jul 2024 08:37:27 +0530 Thu, 11 Jul 2024 08:37:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=79323 Unexplained investment in land purchase - society's purchase in its name or trustees' names - CIT(A) considered money not paid by society from income but sourced from office bearers - AO held amount in sale deed is society's unexplained investment, not office bearers' undisclosed income. IBS noted society had no income for land purchase and no society reference in seized material. IBS accepted trustees' additional income utilized for society's land investment, trustees found with unaccounted money, not society. CIT(A) erred in observing no evidence of money flow from trustees when mobile data showed trustees' unaccounted money. Source investment can't be taxed again in society's hands after being taxed in trustees' hands. Non-submission of ..... Highlights Income Tax Thu, 11 Jul 2024 08:37:27 +0530 https://www.taxtmi.com/highlights?id=79323