Undisclosed income - receipt of on-money by cash - Simply ...

Income Tax

September 24, 2022

Undisclosed income - receipt of on-money by cash - Simply because the purchaser has admitted on-money payment is not sufficient. Particularly, in this case, a search was conducted and no incriminating material has been found in respect of on-money receipt. - AT

View Source

← Previous Next →

Undisclosed income - receipt of on-money by cash - Simply ...

Income Tax

September 24, 2022

You may also like:

On money receipts - additions based on the disclosure made before the Settlement Commission, however, the application was rejected by the commission - As a settled...

Penalty levied by the AO u/s. 271AAB r.w.s. 274 - levy penalty of 30% on undisclosed income - the reasons given by the AO to levy 30% penalty on undisclosed income is...

Estimation of income - On Money - Unaccounted on money receipt from the real estate project - the assessing officer being investigator and adjudicator was under...

Addition u/s 68 - unexplained cash credit - share application money receipts - Even though there were circumstances leading to suspicion, yet having taken an action...

Undisclosed income - entry in the seized material wherein "P-money" was written - Assessing Officer is of the view that "P-money" stands for pocket money and treated it...

Unexplained cash credits u/s 68 - huge amount of cash deposited and withdrawal from bank - once the Revenue has not disputed that the assessee is engaged in construction...

Even upon detection of on money receipt or unaccounted cash receipt, what can be brought to tax is the profit embedded in such receipts and not the entire receipts themselves - HC

Undisclosed income - addition on the basis of amount reflected in Form No.26AS - No dispute with regard to the fact that the AO taxed the entire difference of receipts -...

Additions based on 26AS statement - undisclosed income - Petitioner has not made any complaint at any stage regarding any fictitious or wrong entries in the 26AS...

Income from undisclosed sources - addition of agricultural income - Assessment of agricultural income declared by the assessee for various assessment years was...

Business income receipt of On Money received out of books of account - Addition on the basis of the extrapolation of the clinching evidences seized/impounded which has...

Estimation of net income from total ‘on money’ receipts - assessee had disclosed net profit of over 30% of total unaccounted ‘on money’ receipts - CIT(A) rightly...

Unaccounted cash receipts - on money for the additional work executed - All these facts and circumstances support that only profit required to be brought to tax but not...

Addition u/s 69B - On-money payment in cash - Unless something is brought on record or AO conducts inquiry that the said person in whose possession it was found has...

Owner of Cash found and seized in course of search - Undisclosed income - presumption u/s 292C - if money is found in possession of any person in course of search u/s...

Quick Updates: