Where assessee builder could not prove expenditure incurred with relevant books and vouchers, estimation of income at rate of 11 per cent was reasonable
Where assessee was found to have received certain sum in cash and contention of assessee that said cash was towards capital contribution of various projects was not supported by any evidence, penalty under section 271D was leviable
Provisions of section 269T are applicable in case of adjustment of loan towards sale of flats
Where tax effect pertaining to amount disputed by revenue was lower than monetary limit fixed by CBDT, revenue's appeal was not maintainable
Provisions of section 269T are not applicable in respect of payment of interest in cash
Refer:[2018] 100 taxmann.com 174 (Visakhapatnam - Trib.)
Where assessee was found to have received certain sum in cash and contention of assessee that said cash was towards capital contribution of various projects was not supported by any evidence, penalty under section 271D was leviable
Provisions of section 269T are applicable in case of adjustment of loan towards sale of flats
Where tax effect pertaining to amount disputed by revenue was lower than monetary limit fixed by CBDT, revenue's appeal was not maintainable
Provisions of section 269T are not applicable in respect of payment of interest in cash
Refer:[2018] 100 taxmann.com 174 (Visakhapatnam - Trib.)
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