Dismissing the appeal of the assessee the Tribunal held that ;the assessee had explicitly conceded and confessed in the sworn statement that those receipts in cash had not been recorded in the books of account or accounted for. Accordingly treating the amount as on money for sale of flats was justified.( AY. 2008-09 to 2011-12)
Shantilal J. Shah v. DCIT (2018) 61 ITR 79 (Bang) (Trib)
S. 153A : Assessment – Search- Admitting additional income of on money – Addition was held to be justified [ S. 132(4) ]