https://www.taxtmi.com/caselaws?id=470115 Unsupported allegations of unaccounted cash receipts from property sales cannot rest solely on sale agreements and retracted statements without independent corroboration. Capital gains on commercial built-up area are taxable in the year of transfer and full receipt of consideration; where the asset was received under an earlier joint development arrangement and held for over three years, the gains are long-term. Jewellery explained and corroborated as a security deposit is not unexplained under Sections 69A and 115BBE. Section 28(via) does not apply where capital assets, rather than business inventory, were held under a joint development arrangement and let out. Disclosed cash property payments may be assessed as income from other sources rather than unexplained investments where statutory conditions are unmet. en-us Thu, 27 Jun 2024 00:00:00 +0530 Thu, 16 Jul 2026 13:22:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470115 Unsupported allegations of unaccounted cash receipts from property sales cannot rest solely on sale agreements and retracted statements without independent corroboration. Capital gains on commercial built-up area are taxable in the year of transfer and full receipt of consideration; where the asset was received under an earlier joint development arrangement and held for over three years, the gains are long-term. Jewellery explained and corroborated as a security deposit is not unexplained under Sections 69A and 115BBE. Section 28(via) does not apply where capital assets, rather than business inventory, were held under a joint development arrangement and let out. Disclosed cash property payments may be assessed as income from other sources rather than unexplained investments where statutory conditions are unmet. Case-Laws Income Tax Thu, 27 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470115