{"id":26612,"date":"2022-04-22T00:07:18","date_gmt":"2022-04-21T18:37:18","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=26612"},"modified":"2022-04-26T15:08:43","modified_gmt":"2022-04-26T09:38:43","slug":"on-money-and-provisions-of-sec-269ss","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/on-money-and-provisions-of-sec-269ss\/","title":{"rendered":"On Money and provisions of Sec. 269SS"},"content":{"rendered":"<p>Assessee is partnership engaged in the business of real estate developers.\u00a0 Survey U\/sec. 133A has been conducted , where a incriminating statement giving particulars of sale of flats , name of person , agreement value and cash accepted was recorded. Partner who was not looking after accounts had accepted the amount stated in coloum cash is extra consideration received. The amount for each unit is more than 2 lakhs. At the time of assessment the said partner had retracted from the statement. However AO made this cash\u00a0 as undisclosed income. Assessee later on received Notice u\/Sec.269SS on the ground that assessee has received On Money more than 2 lakhs from each unit. Whether provision Sec. 269SS is applicable to such alleged receipts in cash. Pl guide<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[33],"qa_category":[23],"qa_tag":[149,222,354],"class_list":["post-26612","qa","type-qa","status-publish","hentry","qa_expert-advocate-shashi-ashok-bekal","qa_category-income-tax","qa_tag-penalty","qa_tag-section-269ss","qa_tag-undisclosed-income"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/26612","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=26612"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=26612"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=26612"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=26612"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=26612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}