https://www.taxtmi.com/caselaws?id=469064 Income from plot sales, including on-money, was required to be estimated on a net profit basis, and the 20% rate applied by the first appellate authority was found excessive on the facts. The Tribunal relied on the department's acceptance of business income at a lower rate in the hands of other co-owners on comparable material and directed a consistent approach across the joint owners. It reduced the estimation to 12% of the sale consideration, including on-money, and ordered recomputation accordingly. en-us Fri, 28 Mar 2025 00:00:00 +0530 Mon, 01 Jun 2026 18:58:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469064 Income from plot sales, including on-money, was required to be estimated on a net profit basis, and the 20% rate applied by the first appellate authority was found excessive on the facts. The Tribunal relied on the department's acceptance of business income at a lower rate in the hands of other co-owners on comparable material and directed a consistent approach across the joint owners. It reduced the estimation to 12% of the sale consideration, including on-money, and ordered recomputation accordingly. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469064