https://www.taxtmi.com/caselaws?id=775627 Voluntary admission of on-money, when corroborated by cash found during search, can support an estimation of undisclosed receipts in a regular assessment under section 143(3) of the Income-tax Act, 1961. The Tribunal accepted that the directors had admitted charging on-money on residential and commercial projects and that the surrounding material supported the admission. It further held that the CIT(A) was not justified in excluding the Sarjan project receipts, because the assessee produced no contrary evidence to rebut the estimate. On that basis, the Tribunal upheld estimation of on-money at 10% of total booking receipts and rejected the assessee's challenge. en-us Wed, 09 Jul 2025 00:00:00 +0530 Mon, 28 Jul 2025 08:27:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775627 Voluntary admission of on-money, when corroborated by cash found during search, can support an estimation of undisclosed receipts in a regular assessment under section 143(3) of the Income-tax Act, 1961. The Tribunal accepted that the directors had admitted charging on-money on residential and commercial projects and that the surrounding material supported the admission. It further held that the CIT(A) was not justified in excluding the Sarjan project receipts, because the assessee produced no contrary evidence to rebut the estimate. On that basis, the Tribunal upheld estimation of on-money at 10% of total booking receipts and rejected the assessee's challenge. Case-Laws Income Tax Wed, 09 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775627