https://www.taxtmi.com/caselaws?id=458925 ITAT Mumbai held that undisclosed income from loose papers seized during survey constituted unexplained cash receipts under section 69A. The assessee, engaged in real estate project Platina at Mira Road, explained the nature of cash receipts as business receipts but failed to identify specific sources or purchaser details. The tribunal agreed with Revenue that merely explaining nature without source details attracts section 69A provisions. Matter was remanded to Assessing Officer directing assessee to provide names and addresses of parties from whom cash was received. Revenue's appeal was allowed for statistical purposes. en-us Tue, 28 Nov 2023 00:00:00 +0530 Thu, 21 Nov 2024 19:30:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458925 ITAT Mumbai held that undisclosed income from loose papers seized during survey constituted unexplained cash receipts under section 69A. The assessee, engaged in real estate project Platina at Mira Road, explained the nature of cash receipts as business receipts but failed to identify specific sources or purchaser details. The tribunal agreed with Revenue that merely explaining nature without source details attracts section 69A provisions. Matter was remanded to Assessing Officer directing assessee to provide names and addresses of parties from whom cash was received. Revenue's appeal was allowed for statistical purposes. Case-Laws Income Tax Tue, 28 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458925