Tribunal Rejects Appeal on Unaccounted Income from Cash Sales and On-Money in Real Estate Transaction.

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....Unaccounted income on sale of plots in cash - estimation of Net profit - estimation on the on- money received by the assessee - The Tribunal dismissed the Assessee's appeal, rejecting their argument regarding the taxation of the profit element in the on-money received. It held that the method adopted for estimating net profit in real estate transactions was not applicable in this case.....