https://www.taxtmi.com/caselaws?id=794074 The HC held that the Tribunal's estimation of the income element in on-money receipts was a factual determination, not a substantial question of law under Section 260A of the Income-tax Act, 1961. The Tribunal had accepted receipt of on-money, rejected the Revenue's valuation basis from an email and agreement, and treated the assessee's admitted rate as a reasonable starting point. It further found that while the entire on-money could not be taxed as income, the absence of evidence of cash expenses outside the books justified a higher estimated percentage. As the findings were based on project accounts, turnover, profit ratio and the nature of the real estate business, no perversity was shown and the appeals failed. en-us Wed, 17 Jun 2026 00:00:00 +0530 Mon, 29 Jun 2026 09:28:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794074 The HC held that the Tribunal's estimation of the income element in on-money receipts was a factual determination, not a substantial question of law under Section 260A of the Income-tax Act, 1961. The Tribunal had accepted receipt of on-money, rejected the Revenue's valuation basis from an email and agreement, and treated the assessee's admitted rate as a reasonable starting point. It further found that while the entire on-money could not be taxed as income, the absence of evidence of cash expenses outside the books justified a higher estimated percentage. As the findings were based on project accounts, turnover, profit ratio and the nature of the real estate business, no perversity was shown and the appeals failed. Case-Laws Income Tax Wed, 17 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794074