https://www.taxtmi.com/caselaws?id=778485 ITAT held the Rs.11 crore addition u/s 69 for unexplained investment in land was misplaced and deleted, finding on-money receipts funded the cash payments and any partner-introduced cash should be assessed in partners' hands, not the firm. The tribunal directed AO to compute income for on-money received in FY 2019-20 (01.04.2019-20.04.2019) applying a 15% profit rate as upheld by CIT(A). On-money from earlier periods may be assessed in the correct years if time-bar permits. en-us Mon, 15 Sep 2025 00:00:00 +0530 Wed, 17 Sep 2025 10:04:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778485 ITAT held the Rs.11 crore addition u/s 69 for unexplained investment in land was misplaced and deleted, finding on-money receipts funded the cash payments and any partner-introduced cash should be assessed in partners' hands, not the firm. The tribunal directed AO to compute income for on-money received in FY 2019-20 (01.04.2019-20.04.2019) applying a 15% profit rate as upheld by CIT(A). On-money from earlier periods may be assessed in the correct years if time-bar permits. Case-Laws Income Tax Mon, 15 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778485