https://www.taxtmi.com/caselaws?id=798672 Rental receipts recorded in a partnership firm's audited accounts, received in its bank account and assessed in its hands remain taxable to the firm; partners' capital-account withdrawals and uncorroborated rough notings do not establish undisclosed rental income of landowners. Long-term capital gains under a joint development agreement accrue when irrevocable development rights, effective possession and control are transferred under section 2(47)(v), rather than on later handover of constructed area. Section 45(5A) does not apply retrospectively to a pre-amendment transaction. Uncorroborated loose sheets that identify neither payer nor recipient are dumb documents and cannot alone support an addition for underreported rental income. en-us Thu, 27 Aug 2026 00:00:00 +0530 Thu, 10 Sep 2026 08:51:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798672 Rental receipts recorded in a partnership firm's audited accounts, received in its bank account and assessed in its hands remain taxable to the firm; partners' capital-account withdrawals and uncorroborated rough notings do not establish undisclosed rental income of landowners. Long-term capital gains under a joint development agreement accrue when irrevocable development rights, effective possession and control are transferred under section 2(47)(v), rather than on later handover of constructed area. Section 45(5A) does not apply retrospectively to a pre-amendment transaction. Uncorroborated loose sheets that identify neither payer nor recipient are dumb documents and cannot alone support an addition for underreported rental income. Case-Laws Income Tax Thu, 27 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798672